- Real Vision Group CEO Raoul Pal said that social tokens will be the next significant change in the crypto world.
- The CEO revealed that he is currently working on creating a social token.
The CEO and founder of Real Vision Group & Global Macro Investor, Raoul Pal, is optimistic that social tokens will be the “next big thing” in the crypto industry. Pal made his assertion on social tokens while speaking on the outlook for crypto space. The CEO used to be a hedge fund manager at investment banking company Goldman Sachs. Also, Pal is a known Bitcoin bull.
According to Pal, social or community tokens are capable of disrupting the different kinds of traditional industries as they emerge as the next significant development in the crypto market. It appears Pal’s confidence in social tokens is growing. The CEO said that his company intends to launch a social token over the coming year.
Raoul Pal speaks on social tokens
Unlike other kinds of tokens, community tokens are linked to either a person, an organization or a company. However, social tokens, like other digital assets, are decentralized and function on a blockchain network. Holders of community tokens enjoy certain benefits from the issuer of the token. Some of the holders’ benefits are access to exclusive content, digital merchandise, or access to group chats. Pal stated:
It’s the biggest thing I’ve ever seen, we all know how big crypto is, but within crypto, community tokens are going to change all business models.
Pal referred to Disney to substantiate his point on community token disrupting businesses. He said Disney would eventually adopt community tokens as the firm has fans eager to have access to parts of the community. Speaking further, Pal said that the Disney community token would enable fans to belong to communities of interest. He mentioned communities such as Star Wars or Disney animation.
Furthermore, Pal is assured that the social tokens industry will move from a “billion-dollar” business to a “trillion-dollar” over the next five to ten years. According to Pal, his self-confidence in the development of social tokens is so huge that he aims to create one.
Pal reveals plans to create a social token
Pal revealed that he is currently working on a social token. He plans to offer the social token to the “great, amazing community of “super-smart people” worldwide. The Real Vision Group founder noted that fans have been asking for a community token to be a part of the “expert network of people that love finance and, you know, love investing and learning.”
Also, Pal mentioned the steps required to create a community token that ticks all boxes. He explained:
You need to give [holders]benefits of community, utility of community so that they get discounted tickets, ability to get extra merchandise, ability to get access to NFTs, ability to have meet and greets, ability to chat with the artists, you need to generate all that ecosystem where everybody can connect and bond and everybody can connect and bond and everybody feels close to the center of the community, the influencer.