Token Failure

Tokens change their status in the course of a career. If a star or an institution is successful, the attention of the fans and the desire of the tokens – will increase. Failure will have negative consequences for the tokens. There are also extraordinary events that occur in the course of a career and that have different consequences:

Star dies, band or club is dissolved: The achievements of the utilities, which are connected with the activity of the star, expire, because they can no longer be performed. It is conceivable that the administrators of the estate will deposit and maintain the tokens with new utilities; the tradability is thus not fundamentally questioned; it is conceivable that the tokens of stars will gain value even after their death – just as their works continue to be valued – imagine that there would be a Muhammad Ali token, a Beatles token or an Andy Warhol token: these would continue to be coveted and tradable among their fans even years after the death of their editors, and possibly gain value. Other tokens will become irrelevant and worthless after the publisher’s death.

Star gets ill, ends his career or can no longer provide the services deposited as utilities for other reasons, as these are directly linked to the status (e.g. Meet & Greet) or activity (discounted concert tickets).

Star/Institution changes the name or appears in a new formation: he can issue a new token with a new name; optionally he can assign it free of charge to the owners of the old tokens. The old token loses its relevance, if necessary it still exists.