Non-fungible tokens (NFTs) are assets that are stored on the blockchain. By using a token-gating verification system NFTs can provide access to exclusive content that can only be enjoyed by holders of a specific NFT collection.
NFT token gating is a verification system that acts like a key that provides exclusive access to events, content, and communities for holders of an NFT collection.
Many people, including us, would argue that the value of an NFT is in the art, BUT it is also nice to provide your community of collectors with a reward for being loyal to your art.
People love to feel that they have special access to something. Creating a sense of exclusivity is a great way to build some hype around your community. It’s like you have a VIP pass to skip the long lineup at your favorite club, who wouldn’t want that?
Many big NFT projects even have IRL events, giveaways, and more for their NFT holders.
Anyone who has spent any time in the NFT world will notice that the biggest thing is community. When a project has a large community it normally does very well.
Token gating helps build community among token holders. By providing access to exclusive channels like Discord.
Token gating is also a great way to reward your community. For example, many NFT projects will allow NFT holders to purchase their new collection first.
In our case with Spirit Realm, we allowed our community to help write our movie. By voting on what happens next in our Discord channel. In the future, we plan to allow holders of the collection to have special access to new content and NFT drops.
Owners of an NFT collection store their NFTs in a wallet. An API call can check that wallet to see if it holds an NFT from the collection.
Each NFT collection has a unique contract address, the API can check if the wallet contains an NFT from that collection.
In fact, it could even check if they have multiple NFTs. Perhaps access is only granted to people who own at least 3 NFTs from a collection.
Discord is a very common use case for a token-gated community.
Using a simple extension like Collab.Land a Discord channel can verify if a user has an NFT in their wallet.
With our Spirit Realm project, we allow everyone to join the server but only NFT holders have access to 2 channels.
Shopify now allows NFT creators to token-gate exclusive merchandise by adding a token-gating app to their online store.
This is a great solution for NFTs that lean towards the digital fashion side of web3.
Another great example of the power of web3 gated access tokens is NFT drops.
Creators can reward their community by performing a quick check that allows people who already own an NFT from their collection exclusive access to new NFT drops.
We can offer you support on setting up your NFT collection and how to token gate your community. Contact us at email@example.com