NFT Memberships and How You Can Use Them

Have you heard about NFT memberships? They are poised to shape the NFT landscape, so find out what they are and how to use them.

Nick Lighter

Have you heard about NFT memberships? 

They are poised to shape the NFT landscape, as they are ideas that you can immediately put to use.

In the world of NFTs (non-fungible tokens), everything is possible. 

With NFTs:

  • artists and creators can get paid for their work
  • businesses can gain and retain fans
  • ownership of digital property can be tracked and verified 

NFTs are limited only by our creativity and the community we build around ourselves. This community is exactly the focus of NFT memberships. 

What Are NFT Memberships?

Think of NFT memberships as tokens of access to a community. 

Here, instead of buying a piece of digital art and documenting ownership in the Ethereum blockchain (or another cryptocurrency), you are buying exclusive access to a place, a person, or a group. 

As GetAssist explains, “In simple terms, NFT membership refers to an NFT access pass. With membership NFTs, customers can enjoy exclusive access to physical things produced by the brand/company.“

When it comes to how a membership NFT operates, and what a customer gets for their money, the options are as varied as the companies that create them. CryptoSpace explains:

“NFTs can be used like digital tickets in a way to gain entry to a (virtual) environment, but with the benefit that these NFTs can also be transferred, bought, sold, and traded.

By owning the token users gain (early) access to NFT drops, limited edition products, and other exclusive privileges.

Lifetime access passes via NFT are a great way for companies and brands to leverage a user-driven approach as opposed to an intermediary-driven structure.”

What all of this points to is that any business or organization can create a membership card NFT. 

If there are people who want to buy the NFT, and therefore invest in the organization, then they can do that with no intermediary. 

What is An NFT Organization?

Really, any organization can be an NFT organization. 

All you need is some creativity, an NFT to sell, and a community of people who want to buy in. 

You can set the prices, you can set the terms, and your fans can join the group.

Coindesk tells us “The point of an NFT is its uniqueness. That makes them perfect tools for signifying things that are already special about their owners. For example, NFTs can be used to identify those who have the right to access certain online areas. In other words, they can work like an online membership card.”

Organizations that are already utilizing this model include Coachella, which is selling 10-lifetime passes as NFT memberships. 

Another example is the Bored Ape Yacht Club, which sells NFT pictures of apes. 

As they say on this website, “When you buy a Bored Ape, you’re not simply buying an avatar or a provably-rare piece of art. You are gaining membership access to a club whose benefits and offerings will increase over time. Your Bored Ape can serve as your digital identity, and open digital doors for you.”

How You Can Use NFT Memberships for your organization?

The key feature of an NFT membership is that it gains the user access to something exclusive. 

Some organizations are restaurants that offer members-only access to menus, separate dining rooms, or other real-world benefits. Others are online communities like Bored Ape. 

In exchange, these organizations get both the proceeds of the NFT sale, and a dedicated community of fans who have some skin in the game of the organization’s success.

Because NFTs are demonstrably unique, and ownership can be precisely proven, owners can sell them to others. If you buy one of Coachella’s lifetime passes, you can sell it at whatever price you wish. 

This can be true for an NFT membership that your business offers as well.

As your company or organization succeeds, the relative value of the NFT membership grows — resulting in your NFT holders having a vested interest in helping you succeed. 

With an NFT Membership program, brands can generate loyalty and monetize their audience. 

How Do I Join or Create An NFT Community?

At RareCircles, we can help you get your NFT project off the ground and start building your community with our easy-to-use platform and community management portal. We can also offer technical support so you can focus on creating your NFTs and interacting with fans. 

Get early access to our NFT community.

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