Social-Fi Lifestyle Projects Tokenomics

Introduction

Tokenomics is finding more and more domains where it can applied to support innovative applications. Token started from Decentralized Finance, expanded to creativity, gaming and entertainment and are getting also into the social space.

Here are three interesting examples.

STEPN

In the app marketplaces there are hundreds of fitness-related apps that allow to track the users activity, monitor results, compete with other users. They all try to push the user to increase the workout for better health.

There is however an app that is changing the paradigm: STEPN. According to its developers it defines a new model, the move-to-earn model, and this would be the next evolution of fitness: Fitness 3.0.

More in detail, STEPN is a Web3 lifestyle app with social-fi and game-fi elements. Players can earn money by walking, jogging, or running outdoor.

In order to join the community of users, players have to choose a sneaker that fits their fitness level (walker, jogger, runner and trainer) and can buy or lease them in the in-app marketplace as NFT.

Users can customise each type of sneakers according to many aspects:  comfort, resilience, efficiency, quality, luck, etc.

The sneakers price depends on the characteristics the player has selected. A player may own more sneakers.

Once equipped with the shoes, the player can go outdoor with the GPS and start his activity and earn GST (Green Satoshi Token), the game token, that can be used to level up and mint new sneakers, repair them, unlock sockets. Energy is needed to earn GST. Every 1 Energy equals 5 minutes of move&earn movement.

The in-app Wallet, which has also a built-in Swap function, will store the users’ GST earnings.

STEPN has also a Governance Token: GMT (Green Metaverse Token).

However, GMT earning is only available to Sneakers that reaches to Level 30.

To ensure the longevity of the STEPN project, the total release of GMT will halve every three years. 

STEPN does not require people to own NFT assets. Instead, they can rent them for free from other users and split the earnings later. 

STEPN charges a small fee for some in-app activities, such as NFT trading, shoe minting and shoe rental. 

Friends with benefits

Friends With Benefits (FWB) is a growing social DAO with more than 3,000 engaged members. 

It is a group of Web3-focused thinkers, builders, creators, and friends. 

Collectively, members aim to catalyze the power of Web3 as a cultural phenomenon. Since its inception in 2020, FWB has produced a diverse array of events, collaborations, and products that serve the community’s needs while simultaneously adding value to the $FWB token.

What excites and motivates its members drive the community. FWB welcomes new members by application. If accepted, you can become a Global Member by purchasing 75 $FWB tokens, or a Local Member by purchasing 5 $FWB tokens.

Members can participate in the Discord community, attend digital and real life events such as dinner parties, park takeovers, cafe co-working and movie nights.

But they also  co-create the DAO’s future with the rest of the community. 

Only Global Membership grants the member unrestricted access to events and content.

Applications to join FWB undergo a review process on a rolling basis by a committee of current members. 

$FWB is a cryptocurrency that’s tied to the Friends With Benefits DAO. While $FWB tokens can be purchased in any amount by anyone, and everyone who holds $FWB can have a voice in the DAO’s governance, only official FWB members can earn $FWB as a reward for participation. This is a way of bolstering the value provided by FWB to its engaged community.

Audius

The mission of the Audius project is to give everyone the freedom to distribute, monetize, and stream any audio content. 

The Audius protocol brings artists, node operators, and fans together in an incentive-aligned way, allowing these actors to collectively provide a high-quality end-user audio streaming experience without centralized infrastructure.

Users are compensated in proportion to how much value they create for the network, Artists directly engage with and transact with their fans, Governance power is earned by creating value in Audius, and shared consistently between user groups contributing to the protocol, Prices and earnings for participants are consistent, predictable, and transparent. 

The $AUDIO token enables network security, exclusive feature access, and community-owned governance. The Audius protocol gives everyone the freedom to share, monetize, and listen to any audio. Thanks to $AUDIO, users have a role in the platform’s future through active contributions to the network.

Users stake $AUDIO to secure the platform, and in return receive a share of network fees, governance weight, and exclusive feature unlocks.

Providers get a higher probability of fan discovery and a share of network fees for securing the network.

Artists may unlock services like artist tokens and badges, and receive voting power from fans who want to share in their success.

Conclusions

Social-Fi and Lifestyle are 2 more domains where Tokens are finding their space. What makes this applications attractive is the possibility to earn money when performing some activity that normally users do during their free time.

Hence, enjoying the free time becomes a source of earnings, like in gaming. If you are looking for professional guidance, then be sure to check out the Tokenomics Consulting offered by BrightNode!

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