What is Token Gating?
Token gating is when ownership of an NFT or social token is required to access content. Think of it as a creator or community creates a blockchain token and then sets up a paywall that only accepts that token to access exclusive content. Other terms to describe token gating include NFT access and NFT tickets.
The Value of Token Gating
Token gating is not your typical paywall though. It enables a wide variety of use cases than just another payment scheme to view content (um, we all don’t want another subscription to view only one article on the New York Times):
Distributing content securely — Since NFTs and social tokens are on the blockchain, it is not easy for an owner to transfer or share access to a token. Therefore, creators and communities can ensure that their content is distributed directly only to the paid end consumer. No more of only one viewer paying and sharing their email and password with millions of other non-paying consumers.
Monetization of any content — Token gating allows anyone to become a creator. And a creator to be anyone, not only focused on musicians and artists.
Since you can lock anything behind an NFT, new creators emerge. From a developer who sells NFTs to access a code tutorial to a business professional who sells NFTs for a 1:1 consultant session.
Transformation of new media types — Token gating transforms traditional media types. They have already transformed the standard JPEG. For example, instead of just purchasing a JPEG, you can purchase an image NFT with content behind it.
Another example includes the evolution of books. Bookvolts and WIP Publishing sell NFTs that allow access to eBooks but also access to original illustration files, book club calls, 1:1 with authors, and more.
Not only are you purchasing a traditional book but a slew of other assets critical to the book’s development.
Token gating books also enables authors to monetize on content that they normally couldn’t — such as notes from the ideation process.
Stronger Community — NFTs can serve as membership badges to communities. An NFT purchase can provide access to a community’s entire suite of resources, from a group chat to member perks and more.
Requiring members to purchase or earn a token through active participation, communities can focus on higher quality content. They weed out those are who not committed, spammers, and bots.
What is MintGate?
MintGate is the Shopify for tokenized content. We envision creators and communities creating storefronts and libraries for all of their token gated content.
Founded in the Summer of 2020 through the Gitcoin KERNEL program, we were one of the first players for token gating content. At the time, we realized how challenging it was to execute on token gating, despite the inherent value that it provided. Now, we’ve emerged to become the best UI for token gating content. Period.
With the spirit of making token gating as easy as possible, we offer three ways to token gate content.
How to Set up Token Gating
Upon setting up token gating, you should ask:
- What type of content do I want to token gate? (Video, audio, PDFs, etc.)
- Where is the content currently stored?
- Are you open to storing it elsewhere or in a secondary location? Do you want to gate access to the content where it is currently stored or just the content itself?
- For example, must you token gate the video on Youtube or are you OK with uploading the raw video onto another platform as long it is token gated?
- Do you want to pay for dev time?
Create an NFT and upload gated content (Recommended)
Cost: 4.5% of resale royalty
How long does it take to set up? Two minutes.
Any devs required? No
Chains Supported Ethereum. Soon: Polygon (by January 2022), NEAR (by end of Q1 2022), Tezos, FLOW
How To Get Started: https://app.mintgate.io/create_token
How It Works:
You create an image NFT and directly upload gated video, audio, or PDF content behind it. Once an NFT owner accesses the content, they will not be able to share the content with others who do not own the NFT.
You can also create a white label NFT storefront of NFTs minted on MintGate — so that you can easily share and monetize all of the token gated NFTs.
Bit.ly Styled Token Gated Links
Cost: Upcoming cost
How long does it take to set up? A few minutes.
Any devs required? No
Chains Supported: Ethereum, Polygon, xDai, NEAR, Rally Creator Coins, WAVES, Palm and 60+ more chains
You can create Bit.ly styled token gated links of web links. Perfect for unlisted or private links such as unlisted Youtube videos, Soundcloud links, and more!
How To Get Started: https://app.mintgate.io/create_link
How It works:
- Input a link
- Input your NFT details (usually from another platform)
- Return you a MintGate token gated link
Please note that the MintGate link is token gated and requires a user to connect their wallet to confirm ownership — however, the raw link is not so make sure that it is an unlisted link!
Cost: Free to utilize API. For custom dev work, please reach out to us.
How long does it take to set up? Depends on scope of project. A few days to weeks.
Any devs required? Yes
Chains Supported: Only NFTs minted on MintGate
How To Get Started: API doc link at https://mgate.io/docs/#/default/CheckNFTBalance
How It Works: If you are looking to token gate a custom site directly, you are looking for a direct integration that would require a wallet connection and API checks on a user’s token balance.
We offer an API that would allow you to check if a user owns a MintGate NFT. You can check out the API here.