Token gating benefits and use cases
Cryptospace is evolving every day. And the problem of content monetization, how to do it quickly and safely, worries many users. This is why tokenization is rapidly gaining popularity today.
Token gating is a new method of controlling and restricting access to content, which is exclusively provided to customers who have purchased tokens or NFTs. In this case, the token or NFT acts as an access key, which companies verify by connecting the customer’s digital wallet.
This technology is gaining popularity, and many companies, startups and authors are using it. Through token gating, creators can monetize content and turn services and products into assets that provide a variety of benefits that can be owned and managed for investment and economic purposes.
Let’s take a closer look at what token gating is and which platforms offer this service
Token gating
Token gating is a common tool for restricting access to certain services, facilities or content for token holders. Token gating helps token holders to control and monetize their content by getting a certain number of tokens.
Token gating helps reward crypto projects who own their tokens or NFTs. They create exclusive content that is only available to token owners. If users stop holding a token, they will lose access to the benefits.
Token gating facility
Businesses and authors have the right to control access to their content, earn recurring revenue from secondary sales, and pay any recurring fees. Data can be exchanged only after verifying the user’s identity, which increases security.
Token gating is not difficult to use. Credentials are tied to a tokenized app or site, so users can always have unlimited access to content. Another benefit of token gating is the low overhead, making it affordable.
How does token gating work?
Token gating was designed to take project management to the next level. It provides control over project management by token holders.
Platforms or content authors decide what benefits are available to token holders. Generally, to access token benefits, users need to connect their digital wallet to confirm that they really own the token or NFT. Content will be available only after verification.
Platforms set a certain amount of tokens that a participant must have in their digital cryptocurrency wallet to access a community or content.
The whole room
WhaleRoom is a platform that positions itself as the first fully tokenized peer-to-peer community launched on SENTR3 for token collection.
Owners gain access to a close-knit community of like-minded Web3 and cryptocurrencies, hidden platform features and future member-only benefits such as exclusive events, affiliate offers and discounts.
IQ protocol
IQ Protocol is a DeFi solution for leasing NFTs and Fungible Tokens. It allows digital asset owners to generate passive income by securely renting out their NFTs and Fungible Tokens. Lessors can access assets and their utilities for a specified period of time.
NFT owners can use the platform to open new revenue streams for their idle digital assets by contributing and lending their NFTs to the IQ protocol.
Instead, owners of Fungible tokens contribute tokens to the IQ protocol and tenants borrow tokens, providing access to subscription services, closed content, digital space and credit.
Mintgate
MintGate provides an advanced code-free tool to simplify the smart contract development and deployment process, allowing users to run their own NFT-based content funding projects.
They may use unlockable content carriers that require verified NFT or social token ownership to access and generate closed links for token holders.
Several Web3 solutions offer token gating through different mechanisms – Guild for Discord, Orca for Workgroups, and MintGate for exclusive content.
Unlock protocol
The Unlock Protocol is an open source Ethereum-based protocol designed to optimize the benefits of membership in online communities. It helps authors monetize content on their terms without relying on third-party apps or platforms.
Authors can create memberships and sell access to NFTs in minutes on their terms with no code or clutter. And users get an exclusive experience and can buy NFT keys that give them access to unique content.
The goal of Unlock Protocol is to create a protocol for users and developers, not Unlock Inc. It’s the perfect place for the creative community and content creators.
SENTR3
SENTR3 is a Web3 tokenization solution that can provide seamless tokenized access to communities, physical objects, events, and content while guaranteeing container security.
SENTR3’s blockchain-independent tokenization solutions can quickly close access to private content and experiences using the technology.
SENTR3 includes all the token-gating tools needed to enable mass use:
- NFT/token-gated chat feeds, social profiles, and polling.
- Split announcement channel.
- NFT/token-gated online streaming events and audio lounges.
- Connect to external systems and create your features
- Room domain mapping
Conclusion
The concept of secure access has been around for a long time and is nothing revolutionary. However, using it today, many platforms and authors have a powerful tool at their disposal to create closed, controlled access to tokens. All this thanks to the rise of cryptocurrency tokens and NFTs.
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