How To Apply a Token

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

Tokens bring a new level of incentives to your business.

Consider these steps in tokenizing your business model.

Define the characteristics of your token as follows:

Determine the role of the token such as giving voting rights, acting as a store of value, or representing ownership.

Determine the rules around fungibility, transferability, supply, and flow.

Apply tokenization to your business model by asking these questions:

What part of the business would benefit from decentralization?

What part would work better with fractionalization?

What part would improve with incentives?

Focus on applying tokenization to your value proposition.

Determine how many tokens to mint and what the token holder must do to earn it.

Estimate the cost of running and managing a token process.

Figure out how the token will be distributed, exchanged, and used.

Choose a platform on which to run the token economy or discuss building your own.

Create a sales and marketing plan to promote the token and engage users.

Tokens bring a new layer to building a business.

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

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