Try Quests to earn cryptoForefront Holder Distribution
Q1. Forefront has ownership tiers based on the number of tokens that you hold. These tiers provide access to different tools and community features. One example of an exclusive access is https://signal.forefront.club/ Create a histogram of token ownership amounts to understand the percentage of holders that buy tokens to provide access to these tiers. Where are token amounts most commonly distributed?
Introduction to Forefront
First we need to understand what Forefront is and what its objectives are. So, lets begin by understanding what forefront is.
Forefront is an insight aggregator across the social token landscape. In simpler terms, its a go to place if you are exploring social tokens, a place where you get insights, newsletters and community sessions related to social tokens.
The goal of Forefront is to provide market data on all types of social tokens, regardless of what platform they are issued on or what token standard (like ERC721) they utilize.
Social tokens, huh , what's that ?
Social Tokens
Social tokens are a type of cryptocurrency that a brand, community, or influencer can use to monetise themselves beyond the typical means. Many influencers, celebrities, and businesses these days use social media or other media streams to monetise their skills or services. Typically, in such scenarios, the medium or platform that they use, for instance, Facebook or Instagram, shares the revenue and exerts artistic control on their content. With social tokens, the content creators can eliminate this barrier and bring forward a new principle of ownership in the digital economy.
Objective of this analysis.
We now know that forefront is a project geared towards the community. The project is so designed that people holding Forefront tokens get access to special tools and community features which others wont. Our goal would be to analyse such holders and see what proportion of the users are eleigible for which feature.
Analysis
Now that we have a vague idea of what forefront is. We can start analysing it.
Total number of users
We start with first identifying the number of users or holders
Inference - It can be seen that the top holders are somehow related to the core community itself. Around 69 % is held by the treasury contract while close 10 % is held by the core team and further 5 % by the partners.
However, it is important to know that the team have provided a detailed timeline of them releasing tokens into the public
Features available to users
Now, we get to the main objective. That is, we would like to how many of the users are eligible to access tools and community features provided by Forefront.
There are 3 main perks of holding Forefront.
- With a balance of 1000 FF, one can become an integral part of the community and participate on crucial proposals.
- Access to signal, Signal is a feed ( bunch of articles) curated by the community itself on interesting topics. You need to hold at least 100 FF
- Member, to be a member of the community, one needs to hold at least 10 of the tokens (according to the website).
Inference -
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A majority ( 60%) of the users are eligible for accessing signal. This indicates that the feed is popular among the users.
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As expected, among the three, Governance access is the lowest with around 15 % of them.
Token based community or NFT-Gated community
To comment on which is better, we first have to understand a bit about both. While we have got a vague understanding of token based community because of the forefront model, we haven't actually read about NFT-Gated community.
So we'll first understand that, and then talk about pros and cos.
NFT gating is a way of super-charging a NFT, giving ownership of it more meaning. In addition to owning the video or song in a video NFT or music NFT, you can also guarantee only these holders can access that content.
In simpler terms, Having a certain NFT will let you get some perks in the NFT-gated community, while having a certain amount of tokens will get you perks in the token based gate community. While both serve the same purpose, both have their own advantages and disadvantages.
Scalability.
Tokens can easily be divided into smaller and smaller fractions and can be easily traded between the members. The same token can be airdropped in small parts. This is one of the major advantages of tokens which the NFTs suffer from.
Royalties
Here is a topic, i think NFTs shine. For an NFT-gated community, the initial members will be highly incentivized as they can get royalties on their NFT even after selling it. This however is not possible with token system.
Final
So to speak, both NFT based and token based communities have their ups and downs. However, we are now in the nascent stage of online communities and I do feel that over the coming years, both NFT and token will flourish in their own ways