Disclaimer:
The following is based on my understanding from YouTube, ChatGPT, and other resources. If there are any inaccuracies, please feel free to correct and enlighten me. Also I used AI to restructured my Question to make it readable as English is not my first language. Thank You.

One of my friends is a fairly popular artist/singer on Instagram with around 30k followers. Recently, he needed funds to host a concert but didn't have the necessary resources. After brainstorming, I came up with an idea, and I’d like some input on its feasibility:

Concept:

• Create a Token: We would create a token in my friend's name.
• Hold 50% of Tokens: We plan to keep around 50% of the tokens ourselves to prevent any major "pump and dump" scenarios.
• Token Purchase by Fans: Fans could buy the tokens, increasing their value over time.
• Monetize Gradually: Once the token price rises, we can sell or swap some of our tokens to fund the concert or other projects.
• Provide Value to Fans: To add stability and real value, we would offer physical merchandise, delivered to fans who hold the tokens.

Challenges:

1. Avoiding Pump and Dump: I'm concerned about whales or large investors manipulating the token’s price. How can we prevent this?
2. Not Promoting as Get-Rich-Quick: We want to ensure this isn’t marketed as a way to "get rich" but more of a long-term investment in the artist.
3. Legal Concerns (Securities): Since people are essentially investing in the artist, could this be considered a security? If so, what are the potential legal implications?

Social Tokens:

• During my research, I came across the term Social Tokens, which seems to fit this concept. However, I noticed that they aren't very popular or stable.
• Question: Why haven’t social tokens gained more traction? Are there fundamental flaws in the concept?
• Improvement: Could we modify or recreate the idea with certain adjustments to make it more viable?

I have a detailed plan in mind, but I would love some insights or suggestions on how to proceed, particularly around the challenges mentioned above.