Token Gating: Give your holders exclusive NFT access
In the world of NFTs, creators are constantly searching for innovative ways to increase the value of their collections. One strategy that has emerged as a popular tool for adding value to NFTs is token gating. In this article, we explore what token gating is, why creators should care about it, and show you examples of how teams are implementing this strategy to redefine the utility of NFTs.
Token gating is a mechanism that allows access to benefits, content, or events exclusively to the holders of a particular type of token. Token gating is like a VIP pass that unlocks exclusive access to certain parts of an NFT community.
There are several reasons why token gating has become so popular within the NFT space. One of the main benefits is the level of security that comes with token gating the benefits that are attached to an NFT. Since NFTs exist on the blockchain and there’s no way of forging NFTs, this type of proof-of-ownership allows creators to verify that the individuals accessing the gated perks are, in fact, holders of the token. There is also the added benefit of the special feeling that is created within a community that has exclusive access, and the FOMO that is created for those outside of the project. This is why token gating is becoming an essential strategy that many NFT artists and dev teams include in their projects, and how it can lead a project to becoming absurdly valuable.
There are many teams and projects that are getting creative with how they implement token gating. Below are a couple examples of how token gating with NFTs are used to strengthen communities and reshape and redefine utility, and how you could begin token gating your NFTs. .
Shopify, the e-commerce platform, launched a feature that allows projects and brands to token gate their storefronts. Several blue-chip NFT projects have already signed on as partners, including Doodles, Adam Bomb Squad, and Cool Cats. These projects can roll out exclusive benefits like merch, discounts, and perks only to those who are token holders, driving up the project’s exclusivity.
Created by the first NFT restaurant group Food Fighters, Bored & Hungry is a California-based restaurant that takes NFT token gating into the world of culinary experiences. While everyone can order food at the restaurant with cash and even crypto, specific holders in the BAYC (Bored Ape Yacht Club) and MAYC (Mutant Ape Yacht Club) communities get special deals like burgers and combo meals. Additionally, Bored & Hungry uses token gating to grant limited access to their hoodies, apparel, and other scarce products that aren’t available to the public.
Check verify out here
Unlockables are exclusive files or data that can only be accessed by NFT holders, such as high-quality artwork, source files, or 3D models to name a few. Webhook unlockables enable dynamic data that can be customized based on token traits or other conditions. Three types of unlockables are available: Files, JSON or Plain Text, and Webhooks. No changes to the smart contract are needed, as they can be added to existing contracts.
Verify is free for most projects, and can be integrated in minutes. To learn more about adding unlockable content and token gating your NFTs with ease, you can find further details about Verify in the link below.
Verify Docs: https://docs.dmnd.network/api-products/verify
Token gating is a powerful way for NFT creators to add value to their collections. It provides a level of security that traditional memberships or subscriptions cannot match, and it creates a sense of exclusivity that can make NFTs even more valuable. As NFTs continue to gain popularity, we can expect to see even more innovative uses of token gating in the future.