This document aims to summarize the Talent Protocol token ($TAL) and Talent Tokens from a crypto-economic perspective.
For a simpler explanation read Talent Tokens and TAL Token.
To ensure long-term alignment with Talent Protocol’s Mission, Vision and Values these are the goals to keep in mind when proposing tokenomics mechanisms:
We're currently experiencing a shift to the ownership economy. Worldwide new use cases for fungible and non-fungible tokens are trying to capture value in innovative ways making it so that users can own the value instead of the value being left in hands of different entities like google, amazon, etc. This shift is making its way into personal tokens.
A personal token is centered around a person, its value can come from future equity, revenue, work, product, or services. It can be used by freelancers (1 token = 1 hour of work), for raising funds, for certain actions, for accessing perks, etc. There are limitless possibilities, your imagination is the limit.
These types of tokens have potential for several reasons. In the startup world, most early-stage investors invest in the people over the companies and HR is literally an industry built around betting on people and the struggle with hiring and retention are as high as they have ever been. Imagine a world where a company can own someone's personal tokens and have an active stake in their career, alignment between employee and employer would reach unseen highs. You can benefit from hiring someone early and be rewarded even when they no longer work at your company.
Talent Protocol works in seasons. Each season will have several drops of talent. This methodology allows us to quickly iterate and experiment with new concepts. With each season we want to keep pushing the boundaries of social tokens and keep building on top of what is working and fix what isn’t working.
Each season can have it’s own theme and it’s own twist of tokenomics, we’re still early so we know we don’t yet have the answer to everything and careers aren’t a one size fit all type of concept as people in different stages of their life have different requirements, some might want to raise funds, others generate a support network that will push them to the next level and established talent might just need a platform to find new talent they want to support. Embedding seasons into our core will allow us to tackle these different challenges.
We optimized the token design for long-term relationships and strong network effects. Depending on when you’re reading this, season 2 might just have started or we’re already a couple of seasons into the future.
On the supporters' side we’re targeting crypto early adopters, whose biggest pain points are: it’s hard to find/bring talent to web3 and they are looking for productive ways to give back. Our solution is to create a model where they can become a mentor with benefits, nurture talent and benefit from their growth.
For the talent side, we’re looking for digital natives who are bullish about Web3 (future founders, builders, and contributors) whose biggest pains are being undervalued by the old world of work, where background matters more than merit, and only a few can win. Our solution is to give them the possibility to create a support network, powered by a social/career token, to help them enter web3.
<aside> ➡️ Learn more about Season 1 - Talent Tokens