What does Token Gating mean?

[osamudazai]

Token gating is a strategy used by NFT projects to reward their NFT holders with specific perks and privileges. For instance, an NFT marketplace for digital collectibles may decide to create a specific Discord server only accessible to the NFT holders, giving them early access, exclusive memberships, and even event passes! Recently, Spotify came up with the idea of a token gated playlist where holders of the genesis Creepz NFTs could access a completely exclusive playlist. This way, the community members get more incentive for owning an NFT and can derive some utility out of it as well. Creators, too, regain more control over the distribution of their work.

 

[Santhoshzak]

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