A token can be built to provide nearly any utility, but typically are used for community building.  The first step in launching an artist token is to determine what goals you have for the holders of the token.  What behaviors do you want to incentivize within your fanbase?  How important is liquidity for your holders?

Mapping these will likely determine which existing platform fits best, or if a custom token is the only way to accomplish your goals.

We highly recommend contacting an AudioNode team member to help map these goals and pick the platform that’s right for you.  Social tokens minted on most existing platforms are subject to the volatility of the platform’s base currency.

Distributing pre-mine is a critical step for most musical groups.  This is the act of distributing your token to other members in the group, your existing team, or even friends and families prior to the token being actively traded (and more expensive).  This process can also be a great way to market the launch of your token by running a contest to your fans for some free tokens.  When choosing a customized social token (or with some platforms) it is also possible to never release your token on an open exchange and have it just serve as a community utility with no direct financial value.  Making that decision will be critical and usually takes place during our goals mapping session.  Releasing a custom social token with direct financial value could also violate financial laws in your country, a topic which also needs serious consideration.

Some platforms make distribution of pre-mine more difficult than others, so we highly suggest you consult with a member from AudioNode prior to launching a token.  Failure to do so is likely irreversible and could cause some uncomfortable conversations with your inner circle, or require you to purchase those tokens on the open market and eat what could be a sizable financial loss.

We highly recommend contacting an AudioNode team member prior to launching a social token.

A token can be launched on many different protocols via custom coding (Ethereum, Solana, etc) or can be launched on social token (aka creator coin) platform with no coding required.  A custom token can be listed on widely used exchanges while a token launched within a platform require users (fans) to join the platform in order to trade the artists’ token.

Some platforms require internal pre-approval prior to token launch (RLY) and some are as simple as creating an instagram account (DESO).  Each platform draws different types of users and it is possible to manipulate most platforms into making it work for your utility needs.

We highly recommend contacting a team member at AudioNode prior to launching a token.

Building a social token requires maintaining and modifying incentives to ensure they continue to match the needs and desires of your fanbase community.

Most platform-based social tokens require regular maintenance to ensure you are continually adding value for coin holders.  The platforms themselves are also changing rapidly and require routine oversight by artists or their management.

An additional advantage of a custom token is the allowance to build an incentive structure and reputation score to allow the community to self-delegate and self-build.  This is true web3 technology at work, while we would consider most social token platforms web2.5 products.

Most communities will expect some level of re-investment of the profits generated by the majority token holder (you, the artist).  The big community-building function of a social tokens is the notion that the larger and more active a community becomes the more everyone profits from partaking in the activity.

As the majority token holder, adding profits back into the community helps perpetuate the flywheel of activity and community growth.  This doesn’t require out of pocket money, but instead a smart tokenomics plan to ensure some of the profits you are earning are being recycled into the community to aid in growth.