Raul Pal urged the creators of NFT collections to develop ef | NFT ERA
Raul Pal urged the creators of NFT collections to develop effective tokenomics
Former Goldman Sachs manager Raul Pal believes that the era of social tokens has come with the advent of NFT collections with an actively growing community and some shortage of tokens on the market.
Raoul Pal, CEO of Real Vision, after acquiring NFT from the Bored Ape (BAYC) collection, stated that non-interchangeable tokens from such well-known series create the direction of social tokens, that is, crypto assets representing shares in communities.
"I believe that the future belongs to social tokens, and this is the way forward. You start with NFT communities (the Thousand True Fans model) and then build a social graph. I heard about a potential social token around BAYC, so I focused on it so as not to be distracted by others," Pal commented on his purchase.
The ex-Goldman Sachs manager expressed the opinion that collectible tokens will eventually be integrated into various aspects of society and the economy. Pal noted that bitcoin can be considered as non-interchangeable tokens only in another community and with other functions.
"I believe in NFT as a Universal Basic Equity and the future of culture and community, municipalities and charities, business models and economics. In the end, BTC is just a social token with unique attributes, and all these social tokens work for various models of digital sovereign states, which I think we are moving towards," he concluded.
Pal called on the creators of NFT to create effective tokenomics aimed at promoting projects.
"I don't think social tokens are get—rich-quick schemes. They grow slowly if the community creates a utility that has long-term value. Create a utility, an active growing community and some quantitative deficit, and over time you will create value, everyone can participate either by investing in a utility token (as a deferred future utility), or by adding value to the community and receiving a reward in the form of tokens. The brand or the creator are on equal terms. All the incentives have been agreed," the macroeconomist noted.
