In the dynamic world of blockchain technology, NFTs are proving to be a powerful fundraising tool for project founders. NFTs are allowing organizations to experiment with how access can be used to drive engagement in fundraising and community building.
NFTs serve as a digital membership card. The access that the membership card enables then drives a sense of belonging to the issuing organization. Organizations have offered various types of access to drive this sense of belonging and in turn fundraise. Examples include projects like Stoner Cats using access to content to raise $8M to Axie Infinity generating hundreds of millions of dollars through gaming NFTs.
This article looks at how various projects have used different types of access to fundraise and build a community This is at the heart of what Panxpan's crowdfunding platfrom is all about. We welcome you to set up time to discuss how we can help your project drive fundraising through NFTs & access.
Starting with Membership Tiers or Access Levels
Organizations can design distinct membership tiers, each with its exclusive set of privileges. Different NFTs can then be created to represent a membership card for each tier allowing the organization to automate and simplify membership management. For instance, a new startup project might extend basic access through a lower-tier NFT and premium access via a higher-tier NFT, each offering access to a varied array of content, features, and benefits.
ETHJETS: Access to a Service
The first type of access a project can offer is simply access to the service itself. Take, for example, ETHJETS — an NFT-gated private jet charter membership revolutionizing private jet travel by making it more accessible and convenient. With three membership tiers, ETHJETS grants holders access to flight bookings and exclusive features, setting a new standard in the world of luxury travel.
Stoner Cats: Access to Content
NFTs can unlock a treasure trove of exclusive content, ranging from articles and videos to live streams and virtual events. Organizations can curate content to cater to the tastes and preferences of their community. Imagine a musician offering backstage footage, unreleased tracks, or personalized shout-outs to premium members.
Stoner Cats, an animated series by Mila Kunis, takes this concept to new heights. To gain access to the show, one must acquire an NFT membership, unlocking a world of exclusive content and other benefits, including merchandise, meet-and-greets, and more.
BFF Friendship Bracelets: Access to a Community
Some NFTs start with giving you access to a club and then the benefits are driven by the exclusive member to member interactions of club members.
BFF Friendship Bracelets, for example, offer members access to a supportive community for women and nonbinary individuals interested in the web3 world, with perks ranging from access to the virtual network to future events and the possibility of virtual calls with BFF's renowned founders.
UACatsDivision & United 24: Access to a Personalized Identity
Personalization of one's profile or account within a platform, game or online world is a potent tool for engaging community members. This personalization can highlight a member's commitment or interest in a cause which is especially appealing to Gen Z and younger audiences. Organizations can offer NFT holders custom badges, avatars, or profile enhancements for higher-tier members, fostering a sense of belonging within the community and encouraging them to proudly display their memberships.
An interesting example of this is a fundraising campaign initiated by UACatsDivision together with United24, an information platform for the global support of Ukraine. The campaign aims to raise funds for the creation of the first naval drone fleet that will help the Ukrainian Armed Forces fight against Russian military aggression. Everyone who donated money to the campaign receives a unique NFT image with a cat representing a particular type of Ukrainian Defense Forces: infantry, intelligence, special forces, and so on.
Nike's CryptoKicks: Access to Collectibles
NFTs can feature rare or limited edition variants, designed by artists or themed to offer collectors an exclusive sense of ownership. Nike's CryptoKicks, for instance, introduces a line of digital sneakers with an NFT membership, granting access to a unique virtual experience and exclusive product drops, along with the ability to customize avatars with Nike apparel.
Axie Infinity: Access to an Earning Potential
NFTs have made huge in roads in the gaming community and many NFT games help gamers earn money as well. Known as P2E games or Play to Earn games, these games usually involve working to build characters or find unique artifacts that are stored as NFTs. These NFTs can then be traded to others for a price allowing gamers to make money from game play.
Axie Infinity is a prominent example of a blockchain-based, play-to-earn game that leverages NFTs and cryptocurrencies. In this game, players acquire and breed unique digital creatures known as Axies, which are represented as NFTs with distinctive traits. To begin, players must purchase three Axies with Ethereum. Players can also earn SLP tokens through gameplay, which can be traded for real money on exchanges, or by selling both SLPs and Axies.
At its peak in early 2022, nearly 3 million people played Axie Infinity each day. Today roughly 400,000 people play Axie Infinity each month. There are over 500,000 Axie NFTs in existence and Billions have been transacted on Axie Infinity since its launch in 2018.
As the NFT space continues to mature, the scope for using NFTs as membership cards that unlock unique access will only increase. The ability to create tailored membership experiences not only amplifies the value of these tokens but also nurtures a deeper sense of community and loyalty among members. If you're building a project where you'd like your user base to have this sense of community, consider what access your community will likely want and how you can tie that access to your NFT memberships.