What is Tokengating?
Tokengating technology is a way to restrict access to digital content or experiences using non-fungible tokens (NFTs). By using NFTs to control access, fashion brands can create exclusive and scarce experiences that can be sold at a premium. As NFTs become more prevalent, tokengating technology has the potential to revolutionize how brands interact with customers and monetize digital content.
6 key marketing use-cases that require Tokengating
A fashion brand could release limited-edition NFTs that give customers exclusive access to private fashion shows, meet-and-greets with the designer, the brand muse, or other exclusive events. These NFTs could be sold at a premium and would include additional perks such as a behind-the-scenes look at the design process or a virtual styling session with the brand influencers and fashion experts.
A fashion brand could use NFTs to release limited edition versions of its iconic clothing and accessory items. These NFTs could be highly sought after by collectors and fans and could be sold at a premium price. The NFTs could include an exclusive, unique design, and includes a virtual version of the product, that can be used in online and virtual worlds.
A fashion brand could create NFTs that give customers access to virtual styling sessions with the brand's fashion experts. These NFTs could be sold at a premium price and would allow customers to get personalized fashion advice and learn about the latest trends from a top designer.
A fashion brand could create a loyalty program that rewards customers for their engagement with the brand. Customers could earn tokens for things like making purchases, engaging with the brand on social media, or providing feedback on products. These tokens could then be used to access exclusive experiences or discounts, creating an additional layer of engagement with the brand.
A fashion brand could utilize a game with NFT enablements, where players collect and trade virtual fashion items, such as clothing and accessories. Each item can be represented by an NFT, having its own value and rarity. Customers could purchase certain NFTs that correspond to actual products. This would allow the brand to generate additional revenue while also creating a fun and interactive way for customers to engage with it.
Drive to Store
A fashion brand could create a treasure hunt campaign that drives players to its physical stores. A limited number of badges could be delivered as Proof Of Attendance NFTs to the first participants that find the hidden treasure. The treasure journey in the store could be driven by simple QR code scanning. An AR experience shows up on visitors' phones, guiding them through their investigation steps until they find and collect the ultimate NFT badge.
Please keep in mind that these are fictional use cases and it’s up to the brand and its strategy to decide what best suits them and if these are viable options in the market.
How does Tokengating work?
When the visitors click on the button that points to a tokengated page or element, they get redirected to a Zero-Code access page where they can connect their wallet.
Once the wallet is connected, we verify that it holds the needed NFTs to fulfill a required Tokengate condition. If the access condition is fulfilled, the visitors will be driven to the tokengated page so they can enjoy exclusive offers and experiences.
If the wallet doesn’t hold the needed tokens, the visitors are blocked from access. They can either give up and continue on the brand's public pages or they can click and discover how to get the access token.
The user experience is very familiar and similar to a standard “Login with Google” flow. The big difference here is that the NFT will operate as an access key to open the gate.
How to set up Tokengated access conditions?
Zero-Code Tokengating tools are adapted to create a secure and seamless experience with limited efforts from the brand's team. The Tokengater is also modular and offers an adaptive way of implementation. Creators can either tokengate an entire page from their website or only selected elements for a sharper user experience. Creators that are using web builders such as WIX can also integrate Zero-Code’s Tokengater into their websites, finally, brands that are hosting their websites can use Zero-Code’s tokengater API to insure a secure, straightforward, and modular integration experience for the development team.
The feature will be available to use with the releases of the beta in Q1 2023.
As the NFT market continues to grow, it is likely that tokengating technology will become an increasingly popular way for brands to interact with their customers and monetize digital content. While the technology is still in its early days, it has the potential to revolutionize how brands think about creating exclusive and valuable experiences for their customers. Industry experts predict that they will be overcome as more and more businesses adopt the technology, and best practices are developed.
In conclusion, tokengating technology with NFTs is likely to affect brands in the future by providing a new way to create exclusive, scarce and valuable experiences for their customers, and also a new way to monetize digital content. As the technology becomes more widely adopted, brands will need to start thinking about how they can use it to their advantage.