Exclusive access and engagement through token-gated communities: X Spaces recap with Belong

Token gating, a practice that restricts access to specific content, events, or services via social tokens or non-fungible tokens (NFTs), has steadily gained traction, particularly following the NFT boom of 2021. Major brands such as Ticketmaster and Shopify have been at the forefront of exploring this innovative engagement channel. The entertainment, art and fashion industries are also keenly observing and adopting this trend.

While the initial hype may have subsided by 2024, the technology has proven resilient, evolving and integrating into various sectors. Token gating appears poised for sustained relevance, continually finding new applications and uses.

The recent Cointelegraph X Spaces discussion revolved around the nuances of token gating and the prospects for its further development. Guest speakers participating in a live session included Jay Jideliov, founder of Belong, and Luke Heidecke, chief business development officer of Belong.

🚀 Join us for an AMA with @belongnet on July 15 at 10 AM ET!

🔒 Discover how token gating empowers communities, brands, and event organizers. Learn how it tackles ticket fraud and boosts engagement.

Bring your questions! 💭

[Cointelegraph Accelerator]https://t.co/az2aviHu8G

— Cointelegraph (@Cointelegraph) July 13, 2024

Cointelegraph Accelerator participant Belong is a social token-gating app for private communities, events and real-world assets (RWA). Initially conceived as a social network for co-living communities and Burning Man camps, Belong has evolved to focus on broader community support while maintaining its original ethos. Available on both iOS and Android, the app allows users to buy tickets, access exclusive content, participate in loyalty programs and effortlessly manage NFT assets.

Jideliov explained Belong’s recent integration with Apple Home:

“It essentially allows you to issue NFT keys to your doors. It’s already being used for rentals, co-working facilities and gyms. You don’t have to deal with the front desk and paperwork; you can just buy the memberships, tap your phone on the door and get in.”

Creating engaging experiences with token gating

With Belong, community organizers can create gamified experiences and surprise rewards for users both during and after an event. Users can earn rewards for frequent participation, unlock special content by completing activities and engage with the community through platforms such as Discord. The platform also integrates with games and other types of activations.

“We can use a QR code to get into the venue. But with NFT token gating for events, there are actually additional layers to that: You can be rewarded for spending money at that particular venue, for upgrading or for inviting your friends. It’s really more about having that second touch point with your audience,” says Jideliov.

One of the most exciting aspects of token gating is its versatility across multiple industries. Fan platforms use this technology to offer exclusive perks, such as early music releases and private chats with creators. Token-gated chats and communities, powered by easy-to-use application programming interfaces (APIs) and embeddable widgets, foster deeper engagement between creators, brands and their audiences.

Bridging Web2 and Web3 for better user experience

“From the beginning, we’ve focused on making our platform friendly to both Web2 and Web3 users. We’re constantly iterating on our technology, incorporating user feedback and integrating seamless payment options like Apple Pay and Google Pay to lower the barrier to entry,” said Jideliov. Payment by card and crypto are also available.

The onboarding process has also been simplified to further streamline the user experience. Users can sign up using their existing social media accounts and email addresses. Belong automatically creates Web3 wallets in the background, eliminating the need for users to manage complex secret phrases or additional software.

Belong currently operates on Ethereum, Polygon and Celo, with a Blast launch on the horizon. Upcoming expansions include StarkNet, Sui and SKALE, demonstrating the platform’s commitment to multichain support. Through a robust API, software development kit and integrations such as Shopify for digital goods, Belong encourages diverse use cases.

The backbone of a growing ecosystem

The upcoming LONG token will be a crucial component of Belong’s growing ecosystem. It will facilitate transactions within the platform, serve as currency for various services and enable staking for governance participation. Users will be able to earn tokens through referrals, active participation and community building. The LONG token will also be usable across partner platforms, fostering a broader ecosystem.

“We’re excited to leverage token gating technology to create more engaged environment communities for both virtual and physical event spaces,” Heidecke said at the end of the session. “The future is really promising, with potential applications across industries, such as entertainment, education and real estate. In addition, with the general AI boom, we believe it will play a significant role in personalizing and enhancing eventgoers’ experiences.”