Here's a useful way to categorize tokens -- from network tokens to memecoins, plus a handy flowchart to help figure things out.

Token definitions: https://a16zcrypto.com/posts/article/defining-tokens/

Company-backed vs. network tokens: https://a16zcrypto.com/posts/article/network-tokens-vs-company-backed-tokens/

by @milesjennings, @skominers, & @eddy

The industry is mature enough that we can categorize tokens based on their legal, economic, and technical properties. It shouldn't be surprising that not all tokens have the same legal status or long term economic prospects!

The industry is mature enough that we can categorize tokens based on their legal, economic, and technical properties. It shouldn't be surprising that not all tokens have the same legal status or long term economic prospects!

https://a16zcrypto.com/posts/article/defining-tokens/

CTO @a16zcrypto, lover of https://github.com/a16z/awesome-farcaster

what would make a company-backed token *not* a security in your view?

I’m not a lawyer but decentralizing it — so it’s not company-backed — seems like the only way.