Talent Tokens are like shares in someone's career, where both talent and their supporters get paid dividends over time. Every talent has their own customized token (example: $JOHN).
Talent Tokens are the ERC-20 social tokens minted by Talent Protocol to represent someone's career potential. All tokens minted are currently backed by cUSD.
Talent Tokens have the potential to create the social, emotional and financial incentives to discover and support talent early, while rewarding all players accordingly.
Tokens bring deeper financial and emotional alignment between talent and supporters. They're an unbreakable bond, recorded in the blockchain, and also a more accurate way to assess someone's talent and potential.
<aside> ⚠️ Talent Tokens are not an efficient way to fundraise large amounts of capital quickly. The greatest benefit of using Talent Protocol is helping you build a community of supporters publicly committed to your growth.
Talent Protocol is optimized for long-term relationships and strong network effects.
In Season 1 we wanted to create a safe environment for talent to launch their token (the platform is invite-only and the smart contracts were audited by Hacken).
The staking model is almost like a private sale, where everyone is able to buy talent tokens at the same fixed (and discounted) price. Buying at this stage acts more like vouching for a talent than investing.
The incentives to buy come from 1) the rewards in TAL distributed by Talent Protocol and 2) the possibility of making a profit when the token price stops being fixed on future seasons.
In Season 1 Talent Tokens have a maximum supply of 1M tokens (there will never exist more).