Social tokens are one of many layers of the metaverse (something I wrote about only recently).

Some argue that a blockchain-domiciled system could be better than the current system that is dominated by large players like Meta and TikTok.

P00LS is one platform hoping that Web3 disrupts the space. The platform allows brands and creators to create their own social tokens, distribute them to their communities and become currencies for their respective ecosystems.

Today we interview Hugo Renaudin, founder of P00LS, asking some questions that arise from the ambitious project, as well as asking about their newly launched Creator World and token.

(CoinJournal) CJ: Creator Worlds seems like an interesting concept. How will you attract people to your space, and not the other competitors with similar protocols?

I believe the key to this is that we are building for fans and not speculators. The previous generation of fan-token platforms was primarily aimed at crypto traders and speculators. This means that we create experiences where people can earn, use, and sell the social tokens of their favourite creators to gain meaningful interactions and experiences. Creator Worlds is the place where community-to-creator interaction takes place. People can use their social tokens to gain utility. This is where the fan-to-creator relationship begins. A social token can unlock levels of participation and engagement that aren’t possible with other fan token protocols or web2 social media platforms.

CJ: With a lot of the social media and content creation side of the Internet controlled by big companies (TikTok, Meta etc), do you think their influence and network effects could translate over in future to the web3 space? What would stop Meta from launching a centralised version like Creator Worlds?

You’re correct, legacy web2 platforms are competitive because they have large audiences and a userbase. Some of these platforms have been extremely successful in pushing web3 like Reddit, which has generated millions of wallets for its users.

However, Meta and Tiktok would have to create social tokens in a complete opposite model. It’s a great way to interact directly with your fans and get to know them. If you launch a social token and distribute it to your fans, you know who your most engaged fans are (they have a lot of tokens) and you can interact with them directly (through P00LS worlds, or a token-gated Discord channel for instance). Meta’s and Tiktok’s business models are to charge creators and brands for this information.

The interesting thing about Meta and Tiktok is that they can be used to create value and meaningful interactions in exchange for social tokens. These platforms can be used to directly deliver content to social token holders. Hugo Comte, one of our creators, just created a private Instagram account that is accessible only by holding some social tokens.

CJ: Is it difficult launching the zerozero DEX , with regards to attracting liquidity at the start?

We’re happy to launch our DEX without any liquidity. We envision a healthy lifecycle for a social token by starting with zero liquidity, making it earnable only through community engagement and iteration, and then slowly increasing liquidity.

We’re still in the early stages of our project, so liquidity is not necessary. Fans can always earn social tokens and we’re still developing. We believe that the demand will drive liquidity as these communities grow.

CJ: The P00LS token launched recently amid the bear market. It has been difficult to build a company while the market crashes this year.

I believe this is a better time than to launch at the peak bull market. Also, you can get a token for a lower price now than the launch price.

I still love to build in bear market. People are more focused on building than speculating. The community is here for the long-term, not short-term speculation.

CJ: Most social tokens are down 90%+. Many low-liquidity coins suffered so much in bear markets that they didn’t regain their highs. Do you think this will happen again?

The previous generation of social tokens were designed for crypto traders and speculators. We are now focusing on the fans. This is a huge difference. Regardless of token prices, fans will still be earning tokens by engaging and using them for utilities and experiences that bring them closer to their favourite creators.

This is not going to change, regardless of the token prices. That’s why we place so much emphasis on the adoption by social tokens fans and not speculators.

CJ: Did you ever consider operating without a native token? For example, did you consider using $ETH to trade against creator tokens, instead of the native P00Ls token?

No. We wanted to create a community and a future that can bring creators and users of our protocol together at the same level with our team or investors from the beginning. To do this, you will need a token. Otherwise we are just another web2 company.