What is Token Gating?
Here at Monetized we offer a variety of tools for making your content and digital products available to members who purchase access. You can grant access to your members who purchase with credit cards, give their email, or who own a cryptographic token in their digital wallet.
What is Token Gating?
Token gating is a paywall that allows access based on the ownership of NFTs–the “T” in NFT is token. Token gating with Monetized is similar to other gating methods within Monetized, with the difference of requiring that your users own a particular NFT. When a user comes to your token-gated page, they’ll connect their digital wallet and Monetized will check if they own the ERC-1155 token–the NFT–that you’ve required for access.
At Monetized, you can offer token gating as a payment option alongside more traditional payment methods, like credit cards. Using token gating on Monetized is as simple as adding the address of your NFT and optionally including a URL where your users can purchase or mint an NFT for access.
Many of our NFT customers are using Monetized to allow their token holders to access databases and giving premium content to their NFT community.
Here’s How Token Gating Works:
Let’s build a page to offer a bonus item to our NFT community in the form of a file download hosted on Monetized. By using Monetized we’ll make sure that only our NFT community can access the file download, but we’ll also provide a link for others to mint our NFT and join the community.
Users who first land on this page will not immediately see the file download, but instead can start the authorization process by clicking on ‘Purchase of Check for NFT’ which is used by Monetized to initiate the web3 wallet connection process.
Monetized will connect to their MetaMask wallet and execute some smart contract functions to see if they hold the token required for access to this content.
If the user has the required token, access to the content or product will be granted immediately. If they do not have the required token, they will be directed to the site where they can mint it, should you choose to allow that.
Remember, token gating is a great option to give extra items to your NFT community, but not everyone has a web3 compatible wallet. To broaden the community of members who can access your page, you should consider allowing token gating alongside more traditional payment methods, like credit cards, however it’s up to you which will work best in your situation.
Monetized is a web3 application that uses the distributed ledger as our database. We check the blockchain on every visit to make sure users still have access to your premium content. This means that should any of your token holders sell their tokens, they will lose access to the content.
Monetized, In a Nutshell:
As with all content gating at Monetized, it comes down to three steps:
1. Connect your content to Monetized.
2. Customize the landing page for your offering.
3. Share your new monetized link.
For a detailed account of how to token gate your content, check out this tutorial. [Add link when published]
Questions? Email us at email@example.com.