Introducing NFT Memberships On Coinvise

TLDR; NFT Memberships are a powerful no-code tool for creators and communities to monetize special access and benefits. Make sure to like & RT the Official Twitter announcement ✨

Web3 is evolving at lightning speed, and so is Coinvise. When we started Coinvise in November 2020, we wanted to give creators and communities economic freedom by letting them create a tokenized community and mint social tokens (ERC-20) in seconds.

A year and a half later, tokenized communities have shown their efficiency, and creators and communities’ needs have evolved way beyond minting their tokens.

After introducing many new features that allow creators to reward & pay contributors, avoid gas fees on transactions, and create trust at scale, Coinvise has quickly become the go-to platform for many of the most famous tokenized communities.

Yet, we noticed creators were still struggling with a few blockers when building a tokenized community:

  • Initial liquidity for their tokens and monetization.
  • Designing Tokenomics
  • Kickstarting a community and granting access/benefits before introducing a token.

And we heard them.

We’ve been working hard for the past months to come up with innovative solutions, and we’re incredibly excited to expand today our product offering with Coinvise NFT Memberships.

We believe the future of tokenized communities will need efficient tools that can leverage both the power of NFTs and Social Tokens - and we’re here to build them.

Note: If you’re interested in minting your first Coinvise NFT Membership today, you can access a full tutorial on how to do it here.

1 - Introducing New Plugins & Dashboard

Membership tiers on Coinvise are represented by a NFT with a fixed price and limited supply. Each tier unlocks specific benefits for community members and can be renewed to create recurring revenue for creators and communities 💰

In addition to custom benefits, creators can add Coinvise Verified Plugins that enable sending an automated airdrop and accessing to a membership-gated discord. Because the flow is happening on our platform, and because we’re partnering with other incredible Web3 projects such as, members can be sure to receive benefits when purchasing a membership.

In future we aim to partner with platforms that play complementary to our vision and integrate more plugins for token-gated utilities. Upcoming integrations include Unlock Protocol, Mintgate and more.

We aim to add more plugins that offer composable ways to create tiers with rich utility.

Finally, dashboard on Coinvise now includes real-time data on membership revenue, tokens distributed and a member directory to better understand your community.

2 - NFT Memberships Use-Cases

From our work with hundreds of web3 communities, we realized that building a community takes time and is hard enough without introducing the challenges of token design and distribution.

Launching a token at the outset is not always the easiest or most straightforward path to getting started. For those creators who aren’t quite ready to launch an ERC-20 token, but are still looking to kickstart their web3 community, we wanted to provide a new solution.

With the ability to create NFT directly from Coinvise, creators and communities have now access to entire toolkit to kickstart, then scale their most ambitious projects.

Here’s how we envision a potential communities' life cycle looking like moving forward:

  • Step 1 - Kickstart A Community & Grant Access to Early Members - NFT Memberships serve as digital renewal keys for anyone to access a deeper level of engagement within a community, as well as a great way for community builders to engage and support active contributors. Your members want to be part of something special, want to be associated with your vision, and this is exactly what you can now provide them. Through different membership tiers, you’ll offer different levels of access and content to members, incentivizing them to be highly engaged to keep their status. This is powerful.
  • Step 2 - Get Some Initial Funding To Achieve Your Vision - NFT memberships provide Web3 builders a great way to monetize their top 1% of fans along with community interactions and other benefits/services directly from the community. Monetizing through NFTs offers access to immediate liquidity that can be reinvested back into the community.
  • Step 3 - Increase Engagement Ratio Within Your Community - NFT Memberships aim to ensure a continuous “high engagement ratio” by having members opt-in each season. NFT Memberships will become an essential part of your journey to retain active contributors and ensure contributors not fall below your community’s Minimum Viable Expectation (MVE).
  • Step 4 - Share Governance Power Thoughtfully When Launching A Social Token - With NFT memberships, it’s now much easier to distribute governance power to meaningful contributors when launching a token. Simply use Coinvise’s feature and Airdrop automatically a fixed amount of tokens to existing backers (or new ones).
  • Step 5 - Introduce Liquidity - With active members and a steady influx of funds, you’ll soon be able to introduce liquidity and give a financial value to your token, making your community ready to scale at a different level.

Closing thoughts

Throughout 2022, we've noticed more and more communities considering NFTs as their initial community token. We recognized the ease of getting started through NFTs relative to launching an ERC-20 token, and have been working hard on expanding our tools offering to match creators’ needs.

Moving forward, our vision remains building the essential toolkit for launching and managing tokenized communities—whether fungible or non-fungible. You can expect many additional updates coming soon that align with this direction we’re setting for Coinvise.

Building impactful web3 communities has never been as easy. Launch your tokenized community today 👇

Want more?

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