Comment on page
NFT memberships give projects and businesses the opportunity to build online communities binding together their most loyal customers. NFT-based memberships can grant holders a suite of online and real-life perks, ranging from access to exclusive events and services to voting rights and rewards.
Although membership-based websites appear to have been working just fine for a long time, if you look closely, you can see a lot of fundamental flaws around the current model.
For all its potential, the internet is really powered by a few business entities—Facebook, Google, and Amazon. There are plenty of people making good money on the internet but even they are dependent on these tech giants and are paying them to be able to do business. That payment could be in the form of data extraction, advertising, membership fees, or bandwidth, but they are paying.
Additionally, a large tech company, Apple, made one singular change to their users’ privacy and data handling, and that change kicked off an enormous drop of almost 30% in another large tech company, Meta’s Facebook.
Anytime a large corporation makes a singular change in its own business model that can have a significant impact on another company’s business model, that’s a sign of its fundamental weakness within the model. Typically, if a business makes a change, it only affects that business. Any other companies don’t have to worry about corporate-level fallout as a result of these types of changes.
Quite frankly, people are tired of the friction that these entities have caused in their internet experience. You can measure how tired they are just by seeing how many are shutting down their subscriptions, closing accounts on different websites, and using ad blockers to change their experience on certain websites. People are tired of having to sign up, pay separately, remember passwords and domains, and continually jump through hoops to be able to take advantage of the membership they want to sign up for.
Not only are people sick of the friction, but they don’t understand why the friction exists in the first place. Who are these companies serving? Are they members or clients? Are they users or products? Today’s membership-based business models aren’t set up to serve the members and they know it.
By changing your membership business model to an NFT (non-fungible token), you can remove nearly all of that friction. Anywhere you can connect to your members’ wallets, they can find your content. And they don’t have to remember a password to get into it. All they have to do is connect their wallet, and then the smart contract on the back end will check if the required NFTs are there and unlock whatever content that NFT holder has access to.
It’s very similar to someone who has an AAA card or is an AARP member. They have these membership cards that they can bring to various flights, hotels, and car rentals. Anywhere they see a potential benefit for being a cardholder, they simply go up and show the card to receive the benefit. It might be an upgraded suite, private tickets to somewhere, or a discounted room. That person doesn’t have to jump through any extra hoops to get to it.
NFTs can create the same easy experience anywhere you want to connect with your members. If you want to create special content on your podcast or blog, you can do that without forcing people to log into your blog. You can also send them over to your Discord server, your Shopify store, or anywhere else you want to offer them a special benefit. They don’t have to remember yet another login to make it all work.
So you’re enhancing their experience on the internet with you, giving them the value of being a member of your community and an NFT holder, and you’re able to do it all without the complicated administrative back end of trying to manage and audit your memberships. If someone is done with your membership, they can simply sell the NFT to someone else.
Everything on the back end will smoothly and automatically transfer over without the need to call you or set up any new accounts or change anything over.