NFT Gated Websites
NFT Gated Web services
NFT gated web services refer to the method of creating conditional access to specific content on your website. NFT gating can be seen as the Web3 way of authenticating to access protected areas of a website. Instead of using email/password combinations, for which one has to register for an account in the first place, the new Web3 method is far more seamless and portable across different service providers. Authentication happens through a Web3 wallet. After signing in with the Web3 wallet, the web service automatically detects if the wallet holds a specific NFT asset or another token. If an eligible NFT was detected in your collection, then as per pre-set criteria, access is granted to restricted content. This way eventual perks and benefits on the website become available to the user.
In fact, NFT gated services can replace any centralized and old-fashioned login system in a far more secure manner. In an economy where buyers are keener than ever to protect their privacy, it's a great way for companies to become more customer-centric.
Some examples of Token Gated Services:
- NFT or token gated community
Since NFTs and other tokens are stored and exist on the blockchain, Web3 wallets are cryptographically bound to that information(tokens) on that blockchain. So it becomes possible for a brand to build a private community focused on NFT holders of a specific collection. Think about the vast possibilities that instantly become achievable, like to have an online brand-community, accessible only to holders of the brand’s NFTs and to get access to information that is only meant for that loyal group of NFT holders. This is a great way to award loyal customers and deepen their engagement with your business or brand.
- NFT platform subscriptions
Imagine a platform/website offering news or a monthly/weekly magazine. NFT gated services in the form of a subscription to the news section or magazine can offer this conditional access. Subscription-based NFTs make it possible for holders to renew or cancel their subscriptions. Because Web3 is all about user ownership and not platform ownership as is the case with the current Web2 world, control lies always with the user. This makes NFTs valuable and a liquid asset. They can be resold or combined with other subscriptions, furthermore royalties can be set also.
- NFT Memberships
A brand, company or any other organization can leverage the NFT membership model to provide conditional access to a specific course on the website of a university or to any other organizational specific information or documents. Any achievement (certificate or diploma) in case of a college or university, the platform owner can propose to receive the certificate as an NFT. Everything is stored on the blockchain, guaranteeing ownership and full control, instead of a centralized database, like in today's Web2.