What are the use cases for membership NFTs?

Membership NFTs have emerged as one of the most iconic aspects of non-fungible tokens. This is because they offer direct benefits to holders and help issuers build a vibrant and committed online community. This article discusses the use cases of membership NFTs. Let’s dive in!

TL;DR

• Membership NFTs are vital to helping businesses and creators build exclusive online communities.
• Businesses can use membership NFTs to grant customers exclusive offers, loyalty program participation, and other perks.
• Creators can also use membership NFTs to grant exclusive access to content.

Building online communities through exclusivity

The Bored Ape Yacht Club readily comes to mind when discussing membership NFT and exclusivity. This is because the BAYC project encompasses all the functionality of membership NFT.

The BAYC is considered an exclusive community where only holders of the BAYC NFT can partake in community activities. Thus, the most fundamental deployment of membership in NFT is to build a vibrant and dedicated online community where activities are exclusive to holders. All benefits and events are done to offer value to token holders.

In essence, membership NFT is crucial to building a community that resonates with a project.

Membership NFTs for businesses

There is no restriction on the kinds of businesses that can deploy membership NFT. Brands in fashion and luxury, automobiles, art, foods, restaurants, consumer goods, and hospitality, among others, can benefit from the use of membership NFTs.

They can use NFT membership to offer their users exclusive, token-gated access. This can be deployed as part of a loyalty program. Users could be issued NFTs as passes to special company events or discounts, draws, and offers, along with other perks.  

Also read: Top 3 reasons your project needs a DAO

Token-gated access for creators 

Creators have a lot to gain from deploying NFT as membership access. This includes both digital artists and content creators. Membership NFTs help creators establish an income-generating model that hinges on exclusivity.

 Aside from the obvious pull of creating an online community, NFT membership gives creators the opportunity to create token-gated content. Essentially, this implies that creators can use NFT to gate content, thereby granting exclusive access to only token holders. Gated content could include new releases, a special discography, or behind-the-scenes footage.

Creators could also use NFT membership as a means to collaborate with holders. This could be a good choice for top artists seeking to connect and interact with their users beyond the typical social media exchanges. NFT membership enables such a creator to interact with a sizable portion of their fanbase. Thus, collaborations and contributions to upcoming works are some of the things that could be explored.

Interesting piece: How does NFT metadata work?

Conclusion

Membership NFT is an appealing option for businesses, brands, and creators. The benefit of membership NFT transcends the building of an online community, although this is considered its primary function. Membership NFT enables businesses to offer perks to their users, while creators can make meaningful income through exclusive content offerings. Overall, deploying NFT membership is a good option for all businesses seeking to make headway in the current dispensation.