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A community coin is a cryptocurrency that takes crypto decentralization up a notch. It operates with its community of users as its backbone, mainly relying on the community’s strength for promotion, advancement, operations, and general direction. Community tokens typically function as an indirect collaboration between the core team behind the design and the general public, with each side as important as the other.
The overall cryptocurrency market ensures that users can access value, with each token striving to create value unique to its ecosystem. Projects that succeed with this uniqueness and provide unrivaled features eventually find it easier to attract supporters. However, community coins take this one step further by involving users in operations, which generates additional value for each user involved.
Community Coins and User Value
A community coin’s reliance on its users almost guarantees its eventual success, ensuring significance and a voice for its user base. The public can enjoy sustained value generated from and by community coins in the following ways:
- Rewards: Consistent participation in a community coin’s ecosystem rewards users at an individual and general level. Community coins sometimes apply a hierarchy that matches users according to their devotion and contributions to the project. At the core, active and committed users are more likely to receive rewards for their contributions.
- Participation: Unlike projects that control operations and deploy features from the top-down, community coins allow users to participate in the nitty-gritty details of the project. Usually, the core team and community members jointly participate in token development, operational decisions, and distribution of coins. In some cases, the team will release test materials for new features or products to get feedback from the community before a final launch.
- No Bureaucracy: Since the community is involved with the platform or product, each user gets a fair say to contribute. There is less bureaucracy and more democracy within the ecosystem.
- Goals: Community coins have goals that align with all (or at least most) of the users. Today projects often launch with specific community goals in view, attracting members of the crypto public with the same inclinations. Generally, community coins create a sense of belonging for members who see the project as a way to champion a particular cause, product, or platform.
Tiger King Coin and Its Community
Tiger King Coin ($TKING) is an example of a significant coin supported by a community with an aligned goal. As the name implies, the Tiger King ecosystem focuses directly on tigers, their conservation, and the preservation of their habitats.
Although the popular Tiger King Netflix series served as the initial inspiration for the project, the ecosystem has developed into much more. The team has set a course to utilize many channels to affect the fate of tigers. Expectedly, the success of all of these efforts relies considerably on support and contribution from the community.
$TKING has many plans for 2022 and has its community at the heart of each one. For instance, the community-led team is proud to have application developers, crypto enthusiasts, musicians, programmers, designers, digital artists, and many other die-hard tiger lovers in its ranks. Their combined strengths and diverse talents have created a space to celebrate their mutual point of interest, away from “rugs’ ‘ and scam coins that pretend to have similar goals. Furthermore, as part of efforts towards tiger preservation, several charity and fundraising efforts will channel much-needed funds into international tiger conservation efforts.
Apart from spending money on tiger habitats, the Tiger King community will help the apex predators with beneficial legislation from appropriate government quarters in relevant jurisdictions. Currently, public information about the dire state of the tiger population is inadequate and requires effort from the broader community. Although the team is marketing its core features and tiger conservation efforts to countries where cryptocurrencies have flourished, the support of a large, loyal, and supportive global community dedicated to saving the tiger will propel its cause to new heights. With organic growth at its forefront, Tiger King Coin and its community are here to stay.