The next big thing in cryptocurrency is a tiny bit of you

<p>Social tokens are reshaping the way wealth is created. Rather than borrowing money to pursue their dreams, artists and entrepreneurs are investing in themselves.</p> <p>Alex Masmej idolised Steve Jobs; his favourite shirt featured Apples that changed the world: Adam's, Isaac's, and Steve's. Masmej aspired to move to Silicon Valley and found himself unable to do so due to a lack of funds. In April 2020, as the world struggled to recover from the coronavirus pandemic, he found himself trapped in his native Paris.</p> <p>As a result, Masmej did something that few 23-year-olds consider: he tokenised himself. That is, he created a financial instrument called a social token, a type of cryptocurrency whose value is determined by the person who created it, in order to sell shares in himself.</p> <p>$ALEX holders would receive 15% of Masmej's income for the next three years, up to a maximum of $US100,000 ($142,000) per year, and would be able to exchange tokens for special privileges: 10,000 $ALEX purchased a retweet from Masmej on Twitter; 20,000 $ALEX purchased a one-on-one conversation with him; and 30,000 $ALEX purchased an introduction to someone in Masmej's network. Masmej raised $US20,092 in five days, enough money to fly him across the Atlantic to San Francisco to launch his start-up.</p> <p>I work in Silicon Valley as a venture capitalist and met Masmej in San Francisco. When he shared his story with me, I was struck by the significance of his journey to California. Rather than seeking financing from investors, friends, or family, Masmej made the investment himself.</p> <p>This may strike some as dystopian, like the plot of a Black Mirror episode. However, social tokens are a subset of a larger and fundamentally beneficial trend: everyone is becoming an investor. Wealth has accrued to a select few – the investing class – over time, while the majority rents time as salaried and hourly workers.</p> <p>Only about one in every two Americans has any exposure to the stock market, and that exposure is income-re