▫️Token Gating

Subscriptions, Tickets, Events and Access Rights Management

What is Token Gating?

Token gating is made available by the Vagabond platform in conjunction with the VagaWallet and VagaPay Gateway to create value for the users and community members. Essentially, token gating allows projects, individuals and businesses to reward people who hold their NFTs by creating exclusive content, events, and other benefits available only to the token holder. One of the most popular use cases of token gating is access management to ‘holders only’ events and showcases. While some projects and organisations may host open house events, other's are only made available to those who hold a specific NFT in their VagaWallet.

Platform agnostic, Vagabond allows creators to no longer be restricted to centralised monetisation models of one single platform. As an example, a content creator could make private videos, music or literature, use the Vagabond platform to token-gate the URLs of the said content onto NFTs, and then sell the NFTs that will later grant the holder access to the content.

How does it work?

Getting access to token gated benefits and access rights is a simple process. Event hosts or service providers will usually require you to connect or sign a message with your VagaWallet, proving ownership of a certain NFT. Once you complete this step, it’s easy to claim whatever benefit, subscription service or event access the holder of the NFT is entitled to. Token Gating can also provide exclusive content or membership type services in a project or organisation, which may include a website portal where token holders connect their VagaWallet to gain further access into the website and content. It will also be made possible to offer token gated benefits without the need of the holder to connect or carry their VagaWallet.

Examples of Token Gating

As more and more people wake up to NFTs, it’s important that we highlight some of the usefulness of these tokens (NFTs), besides simply buying and selling digital pieces of artwork.

Token Gating can be used for a variety of use cases. The overarching purpose is to create value for the NFT holder. Token gating assists with distributing exclusive content, event tickets, airdrops, merchandise and access passes for entry into both physical and digital experiences. Here are a few examples of how projects can utilise the VagaWallet to benefit their users:

• Event tickets;

• User identification purposes;

• Access to subscription type services (local gym, video/audio streaming services, software apps, gaming, etc.);

• Access to exclusive content, both physical (CD's, posters, autographed merchandise, etc.) and digital (music, video, gaming, podcasts, etc.);

• Multiple tier access rights by predefined metrics, traits, fulfilled objectives and/or processes;

• Management of voting rights;

• Access passes to Discord servers, Patreon's, virtual destinations within the Metaverse, and more!

Security Guidelines

From a holder’s perspective, the most important thing to consider about token gating is wallet security. In most scenarios, you are required to connect your VagaWallet in order to gain access to token gated benefits. It’s always a good practice to triple check links before connecting or signing anything with your VagaWallet. Additionally, if a project, company or individual announces an event or claim involving token gating, always take your time to check multiple sources and official channels before interacting with any website or application. Most projects or events will never conduct any surprise mints, claims or requests. Be cautious and take your time!