What's the purpose of creating my own token? How can creating a new token be applied to real-life use cases?

Lately I’ve been hearing some news about a singer wanting to deploy their own tokens. I’m not sure how this would benefit him, as it would take a certain amount of fees to maintain the coin.
What will be some of the examples he can use his coin for? Like, if I want to deploy my own tokens what can I use it for in real life?

Good question.

I can think of a couple on top of my head. I’d say his fans can benefit from his coin. They can collect them and get exchange for a ticket, merchandise or a VIP spot during his concert. His coin will act like an unique point that only he owns.
It’d be a great reputation boost if he want to gear towards building a business empire. Cryptocurrency is quiet new, and for a singer to adopt to this new type of technology, I’m sure would be something the press want to capture.

I think maybe I know which singer you’re talking about :wink:

You can read more about projects issuing tokens on TomoChain and see what they do with their tokens as well as what we are doing together HERE