Business,Operations,GuideModule 4.2

Module 4.3

Non-Fungible Tokens (NFTs) and Token-Gated Access

Moving beyond purely financial tokens, Non-Fungible Tokens (NFTs) are another pillar of decentralized technology that Bittrees leverages for membership, identity, and stock. By definition, an NFT is a unique cryptographic token that represents ownership of a distinct asset or item; it cannot be always exchanged one-for-one with another NFT because each has unique properties (hence “non-fungible,” unlike cryptocurrencies which are fungible) . While many people associate NFTs with digital art or collectibles, their use cases are broader. In our context, think of NFTs as digital certificates.

Bittrees Research Membership NFT: Bittrees issues an NFT to represent membership in Bittrees Research (the research and investment management arm of the organization). For example, a Bittrees Research Membership Certificate NFT grants the holder certain privileges such as access to member-only communications, eligibility to propose or fund projects, or participate in specific events. It’s even time-limited (valid for 360 days) as per its design. This is similar to issuing a membership card in a club that expires after a year – only here it’s digital and verifiable on the blockchain using the token id and associated metadata.

When a new team member or contributor is onboarded, one can mint (create) this NFT membership for themselves. In the onboarding process, there is “Use new wallet to mint a Bittrees Research Membership” – meaning once you have your wallet set up, you can go to the membership dApp or contract and mint the membership token. This NFT will reside in your wallet, showing that you are a verified member from that time until 360 days in the futuree. It’s like being given a membership certificate, but in digital token form.

Token-Gating: This term refers to controlling access to resources based on token ownership. With your membership NFT in your wallet, certain platforms can automatically grant you access. For instance:

  • A private Telegram or Discord channel might be gated so that only wallets holding the membership NFT can join (some bots and integrations allow this check).
  • A web portal or Google Drive could be integrated with a system that checks for the NFT and then allows single sign-on if present.
  • Even physical events could use an app to scan that your wallet holds the NFT as your “ticket” to enter.

In essence, token-gating is like having a key or ticket – the NFT is the key that unlocks doors (digital or physical) . If you don’t hold the required token, you’re kept out. This is extremely useful for DAOs and communities to ensure only bona fide members access certain privileges, without maintaining separate username lists – the blockchain token ownership is the source of truth. NFTs can also represent governance tokens in some systems, or credentials like a proof of attendance.

From a legacy perspective, NFTs for membership are akin to:

  • A membership card or certificate (with the difference that authenticity is cryptographically verifiable and it’s transferable unless programmed otherwise).
  • A software license key that unlocks a program (token gating content is like license checks).
  • Even a passport or ID, if you consider future developments (where your identity credentials could be NFTs in your wallet verifying your status).

One should note: NFTs can be configured to be non-transferable for identity so they can’t be sold or given away, or transferable if you want memberships to be sellable. Our Bittrees Research membership is transferable and expires annually, ensuring purchases have the freedom to do with it as they want.

Module 4.4 -- Ethereum Name Service (ENS) – Decentralized Naming