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

Some friends and I have been talking about purely synthetic commodities tokens

Someone launches $SOYBEANS for instance

Has no actual ownership of any soy beans, but our guess is it would eventually track the price of soybeans 

My guess is this is just a boring memecoin

Lead Clank @clankpad || Midwest mom in a California dad bod || Ruthlessly pro Farcaster

That’s where I ended up

Just a terrible memecoin

Yeah this would be a memecoin masquerading as an Asset-backed token. Which is, at best, not a great user experience.