Token Economy: Money, NFTs & DeFi (English Edition)

Token Economy: Money, NFTs & DeFi (English Edition)

This is the first of three books in the Token Economy Series. How will tokenization impact our monetary systems, financial systems and the real economy. Can so-called cryptocurrencies such as Bitcoin, Ethereum, stable tokens such as DAI replace money as we know it? What about other tokenized assets - such as real estate NFTs, art NFTs, KWh NFTs, data NFTs, attention NFTs? In public debate, these questions usually lead to highly contentious discussions and the arguments very often depend on one’s definition of what actually constitutes money. Discussions about what constitutes “real” money, often seem to have an almost religious dimension, where arguments are based on ideology or semi-knowledge. Readers will get an introduction to the core concepts of tokenization, before delving into the question of what constitutes money and credit. Both chapters provide an important foundation from which various use cases for fungible and non-fungible tokens that represent different types of assets will be analyzed. Later chapters introduce the concepts of financial markets and discuss how asset tokens can be used as collateral in a growing ecosystem of tokenized financial applications – ranging from DeFi (Decentralized Finance) to CeFi (Centralized Finance).

ABOUT THE THIRD EDITION: Token Economy has been a bestseller since its first edition in 2019. The first two editions were published as one book titled "Token Economy: How Web3 Reinvents the Internet." This third edition has expanded in scope and depth and will be published as thee separate books. Other books in this series are titled “DAOs & Purpose-Driven Tokens” & “Web3 Infrastructure.” Tokens that are designed to incentivize an autonomous group of people to individually contribute to a collective goal, and are minted upon proof of a certain behavior, will be the subject of the third book titled: “DAOs & Purpose-Driven Tokens,” which will be published in Summer 2023. The technical and political aspects of blockchain networks and core Web3 infrastructure will be discussed in another book of the Token Economy Series titled “Web3 Infrastructure” that will be published in November 2023. Until then, the second edition will still be available for those who are interested to catch up on the contents that have not been updated yet.

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