Web3's three-token model (transferred from Xiao Feng's speech)

Three-token model: including NFT (representing commodity value, that is, data, product and service value), the second is functional Token (use right/network value), and the third is security Token (equity and ownership of Web3 participants value).
-NFT is a digital proof, not only the ownership of artworks and avatars, but also self-creation, self-management, and self-certification. The value sources of NFT are Play NFT to Earn and Play NFT to Owns. NFT is a "connector" that connects Web2 and Web3, the real world and the virtual world, fans and products, consumers and communities, consumer behavior and emotional experience.
-The biggest challenge of functional Token is that if the design is not legally clear, it may involve the issuance of securities. The basic principles of functional Token design include, similar to ecological points, free gifts, used to motivate users and start the market, there should be no financing activities such as issuance, sales, subscription, etc. The price discovery depends on the secondary market, which has nothing to do with the issuer and cannot be manipulated. it. The source of value uses the license of the network, pays Gas fees or transaction commissions with tokens, and the company uses part of the profits to repurchase, destroy, etc. Functional Token also has the right to community governance, but the main and core value lies in the value unit that embodies the network effect.
-Security Token is the tokenization of equity. It is the same as stocks in nature. When a Web3 entrepreneurial project mainnet is launched or the mainnet is launched, Utility Token will be issued. Use Utility Token to launch the market, reward users, and gain growth. This can be done from the very beginning. of. However, the company must prove its commercial maturity after a period of time and prove that its balance sheet is stable before it is possible to go for an IPO.