Cryptospace is evolving every day. And the problem of content monetization, how to do it quickly and safely, worries many users. That is why tokenization is rapidly gaining popularity today.
Token Gating is a new method of controlling and restricting access to content, which is provided exclusively to customers who have bought a token or NFT. In this case, the token or NFT serves 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. With Token Gating, creators can monetize content and offers a range of benefits that make services and products become assets that can be owned and operated for investment and economic purposes.
Let’s take a closer look at what token gating is and which platforms provide this service.
Token Gating
Token gating is a common tool for limiting access to specific services, perks, or content for token holders. Token gating helps token holders control and monetize their content by receiving a certain number of tokens.
Token gating helps crypto projects reward users who own their tokens or NFTs. They create exclusive content that is only available to token owners. If users stop holding a token, they lose access to the benefits.
Token Gating Benefits
Businesses and authors have the right to regulate access to their content, earn recurring revenue from secondary sales, and pay no recurring fees. Data can only be exchanged after verifying the user’s identity, which increases security.
Using Token Gating is not tricky. Credentials are tied to a tokenized app or site, so users can always get unlimited access to content. Another advantage of token gating is the low overhead, making it cost-effective.
How does Token Gating work?
Token Gating was designed to help 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. The content becomes available only after verification.
Platforms set a fixed amount of tokens a participant must have in their digital cryptocurrency wallet to access a community or content.
WhaleRoom
WhaleRoom is a platform that positions itself as the first fully tokenized peer-to-peer community launched on SENTR3 to collect tokens.
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. Lessees can access the assets and their utility for a specified period.
NFT owners can use the platform to open up new income streams for their inactive digital assets by contributing their NFTs to IQ Protocol and loaning them out.
In turn, Fungible Token owners contribute tokens to IQ Protocol, and tenants borrow tokens, providing access to subscription services, closed content, digital spaces, 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 can use unlockable content carriers that need verified NFT or social token ownership to access and generate closed links for token holders.
Several web3 solutions offer token gating through various 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 applications or platforms.
Authors can create memberships and sell access to NFT in minutes on their terms with no code or chaos. And users get an exclusive experience and can purchase NFT keys that provide them access to unique content.
Unlock Protocol’s mission is to create a protocol that belongs to users and developers, not Unlock Inc. It’s the perfect place for creative communities and people who make content.
SENTR3
SENTR3 is a Web3 tokenization solution that can seamlessly provide tokenized access to communities, physical objects, events, and content and guarantee holder protection.
SENTR3’s blockchain-independent tokenization solutions can quickly close access to private content and experiences using technology.
SENTR3 has all the token-gating tools needed to enable mass usage:
- NFT/Token-gated chat feeds, social profile, and polling.
- Segmented announcement channels.
- NFT/Token-gated online streaming events and audio lounges.
- Connect to external systems, and build out your features.
- Room Domain Mapping
Conclusion
The concept of secure access has a long existence and is not something revolutionary. However, using it today, many platforms and authors have at their disposal a strong set of tools for creating closed, controlled access to tokens. This is all thanks to the emergence of cryptocurrency tokens and NFT.
