Frequently Asked

Questions

Puzzled about Social Tokens, NFTs, and UpSocial? Review all these sections and get all your answers immediately.

Frequently Asked Questions

Social Tokens

What are social tokens built on?
Social tokens – also called creator coins, community coins, or personal tokens – are backed by blockchain technology and have a decentralized nature. Social tokens are built using the same model found in some common cryptocurrencies, including Ethereum and Bitcoin.
Where can I use social tokens?
Since social tokens are a cryptocurrency type, you can use them to monetize your creation. In other words, if you’re an influencer, brand, or community, you can use social media platforms to monetize your services.
What risks do I have with social tokens?
There are no financial risks. However, the only problem of social tokens is content management. After launching the tokens, creators must produce continuous content for their fans and communities. Failure to do so can reduce the fan following, which decreases the opportunity to sell social tokens. Nevertheless, choosing the right platforms to launch social tokens can overcome this problem.
How does a social token work for creators?
The concept of a social token revolves around the “ownership economy.” Creators monetize their work through social tokens, and their fans purchase them to show their support and loyalty. The whole process makes creators’ social tokens valuable, allowing them to enjoy significant gains.
How does a social token work for fans?
Creators give their fans or community rewards, allowing them to use these rewards for different beneficial purposes. Plus, fans can also trade social tokens and enjoy profits just like any other cryptocurrency.
Should I invest in social tokens?
Both creators and fans can invest in social tokens to get numerous benefits.
How do I know that social tokens aren’t scams?

Creators and fans must avoid investing with unregistered companies that claim to provide a platform to launch, buy, and sell social tokens.

How can I trust creators and their tokens with my money?

You should only buy social tokens that are backed by registered platforms. Moreover,
choose creators with colossal community and fan following.

Frequently Asked Questions

NFT

What is an NFT?
NFT stands for “Non-Fungible Token.” NFTs are digital assets representing ownership of objects, such as music, videos, photos, and art. They are built on the same blockchain concept, but they are non-interchangeable because they are not currency.
Is NFT a scam?
NFT is as legit as anything else around you. While most NFT projects are real, a few projects turned out to be fraudulent.
How can I verify NFT authenticity?

There are numerous methods to check the authenticity of an NFT project. For instance,you can check the transaction history and NFT metadata. Likewise, you can verify the ownership of an NFT with the help of digital certificates. In the same way, you can use different NFT verification tools or directly contact the NFT platforms to ensure the authenticity of projects.

How can I buy NFT?
First, you need to buy Ethereum (ETH) through a crypto exchange. Next, transfer your ETH to a crypto wallet. Then, connect your crypto wallet to your favourite NFT marketplace, and start purchasing NFTs through ETH in your digital wallet.
How can I sell an NFT?
You can sell your NFT by listing it on different marketplaces. You can mention your price (in Ethereum), and once it is sold, you can receive the amount in your digital wallet.
Can I create my own NFT?
Creators can use their skills and talent to create NFTs, mint them, and enjoy royalties every time their creations are bought or sold.
Are NFTs used for money laundering?
The answer is “No.” At this moment in time, there’s no clear evidence that non-fungible tokens help in money laundering
Are NFTs bad for the environment?
NFTs are not vulnerable for our planet specifically. NFTs are considered hazardous by a particular group because people would get more involved in using computers and technology to create, buy, and sell NFTs, causing an increase in carbon footprints. However, there is no direct connection of NFTs being dangerous to the environment.

Frequently Asked Questions

UpSocial

What is UpSocial?
UpSocial allows creators to create their own social tokens and build a strong community for their fans.
Why should I use UpSocial?
Through UpSocial, you can create your social tokens, gather your audience under one umbrella, make them buy your coins, and offer them great rewards and perks for their loyalty. The more perks you offer, the more popular your social tokens become.
Can I buy NFTs through UpSocial?
Yes, you can use UpSocial to buy and sell NFTs.
Why should I trust UpSocial as a creator?
UpSocial is a registered company. The main idea of UpSocial is to promote creators and their creation in a secured environment and give them the liberty to create their own social tokens and increase their audience.
What benefits can I give my fans after launching social tokens on UpSocial?
As a celebrity or creator with a huge fan following, you can give numerous rewards to your token holders. These rewards could be in any form as per your choice. For example, being a famous celebrity, you can offer your token holders direct access to you through private chat. Likewise, you can give them rewards and discounts on buying merchandise, and many more.