Thanks to CryptoKitties and other blockchain collectibles, non-fungible tokens (NFTs) are increasing in popularity and value. As interest in these digital assets has increased, so has the number of applications for them, including memberships that provide unique access and benefits to NFT holders.
NFT membership can help brands demonstrate exclusive status and offer benefits to those who invest time and resources in their ecosystem. But what is an NFT membership and do you need it?
What is NFT membership?
NFT membership acts as an access pass that gives you, a customer or supporter, exclusive access to a venue, group or organization. Unlike traditional cryptocurrency, which is fungible and can be exchanged for an equal amount of another cryptocurrency, NFTs represent unique assets that cannot be exchanged for other tokens. These assets can represent anything from artwork to in-game items or even exclusive access to special events.
NFT membership has the potential to revolutionize the way people access and own digital assets. By creating a membership-based system, you can streamline access to artwork, games, and more. These memberships also enable a more secure and efficient way to transfer digital assets to another NFT user.
In addition, NFT membership may reward members with exclusive access to unique events, content or services. This opens up new opportunities for creators to monetize their content and offer exclusive rewards to their members.
NFT memberships are still in the early stages of development, but they have great potential to revolutionize how people own and access digital assets. As the technology develops and grows in popularity, there are likely to be even more innovative uses for NFT membership.
How does NFT membership work?
NFT membership gives you exclusive access when you connect your cryptocurrency wallet to the brand’s platform and your ownership is verified. It is similar to the traditional membership model as it helps brands and organizations connect with their communities. This helps build a much deeper relationship and gives holders all the benefits associated with the brand.
For example, Azuki gives NFTs exclusive access to The Garden, with perks like NFT drops, streetwear collaborations, and live events. You must purchase one of the 10,000 avatars in Azuki NFT and be a verified owner to enjoy this access.
Most NFT sites are user-friendly and make the authentication process relatively easy. You only need to have the recognized NFT membership card for seamless approval.
What are the benefits of an NFT membership?
Like traditional memberships, NFT memberships offer several benefits that vary based on the NFT you own. Ownership will likely provide you with benefits, such as exclusive and early access to limited products that align with your organization’s business structure. Alternatively, some may offer you different levels of membership that better suit your needs.
Here are some benefits of owning or using NFT membership.
A two-way partnership between brands and NFT holders
Brands and organizations earn the loyalty of their NFT holders when they succeed; as the value of membership increases, holders and brands form a vested interest.
When organizations create an NFT membership program, they build trust with their audience with more monetization opportunities. This two-way partnership ensures that organizations and NFT holders are on the same page with the brand’s success.
Reduces the possibilities of loss or counterfeiting
NFT membership provides a wealth of opportunities for holders because they are undoubtedly unique. Their ownership can be verified and they can be sold to others at whatever price you want.
There is less chance of NFT membership being counterfeited or stolen because anyone can authenticate or verify each token. This prevents you from worrying about losing your physical cards or authentication information.
As blockchain technology has grown rapidly in recent years, organizations and NFT holders now have the platform to build a solid and lasting mutual relationship that will benefit both parties. In addition, it is now extremely difficult for someone to fake membership information or steal it because membership can be easily verified on the blockchain network.
Simple and flexible user experience
NFT Membership allows you to register instantly by connecting your wallet to the brand’s platform once you have the correct NFT in your wallet. This is due to blockchain technology, which uses a specific wallet address to identify customers while ensuring their privacy.
The authentication process is simple without the hassles that mostly come with traditional membership registration, and it guarantees immediate benefits from the brand once the NFT is verified. You can also keep your benefits and rewards even if you sell your NFT membership cards.
More income opportunities
The rewards offered per NFT membership vary and grow based on the brand. With traditional membership, the value of membership rarely increases. But with NFTs, creators can use smart contracts to earn continuous royalties from their NFTs.
Some NFT memberships come with airdrops, allowing holders to sell the airdropped NFTs as a membership benefit. Several brands also release a limited number of cards, thus making it possible to create more exclusivity around the membership card and increase the price by a good margin, creating yet another marketplace where you can sell these cards.
How can I get started with an NFT membership? How much does it cost?
Obtaining an NFT membership is relatively easy.
First, you must join an organization’s NFT community to obtain its branded NFT membership. There will likely be a verification process to verify the authenticity of your purchase, and anyone on the blockchain network can easily verify this. Once your purchase is confirmed, you will automatically have access to all the long-term benefits and benefits of the brand, along with special incentives.
On top of that, the price of an NFT membership often varies depending on when you buy. If you buy right from an NFT creator at launch, you will likely pay a flat price and the same as everyone else. But if you come to a project later, you can pay more for NFT membership if the project has appreciated or is very popular.
If you want to create NFT membership projects, you can use Shopify, RareCircles, or any other platform that helps you develop and manage NFT membership campaigns. Generally, you must request access to use these platforms. But they will help you start your NFT membership project and grow your community. They will probably also give you support.
Why you should have an NFT membership
NFT membership guarantees access to a range of online and real-world opportunities. They can be a digital identity and literally open doors for you on the blockchain network. And using NFT membership as a creator, musician, artist or even entrepreneur will allow you to organize your fan base and provide useful NFTs.
Considering how easily you can acquire NFT memberships (or implement them), it’s only fitting to take advantage of this ingenious form of access now.
