A membership NFT is a type of non-fungible token that provides access to an experience, utility, or community, and in some cases all three.
What is an NFT?
An NFT (non-fungible token) is a unique digital item stored on a blockchain. NFTs can represent almost anything, and serve as a digital record of ownership.
A membership NFT is unique in that it offers owners access to communities, utilities, or platforms. Some memberships may exist entirely digitally, while others have physical locations or utilities. Membership NFTs verify ownership or access to these communities, and they can also be used to grant access to exclusive content, special events, or voting rights within a community. They offer a new way for groups to engage with and offer benefits to their users.
What defines a membership NFT?
Access to a physical or digital space is the key utility value proposition for a membership NFT. Some membership NFTs serve as access keys to in-person experiences (like a golf community or networking board), while others operate on platforms like Discord. For example, owning a DayAway Founders Key grants exclusive access and benefits to luxury experiences curated by some of the world’s most reputable brands. Owners are able to access curated in-real-life experiences all over the world.
Other NFTs (like NFTs in the gaming or music categories) can also have a membership or community-based component, but aren’t categorized as membership NFTs. The differentiator is that a membership NFT’s main purpose is to belong in the community itself rather than being a side benefit of a larger NFT experience. For example, a VeeFriends PFP NFT is typically used as a profile picture NFT, but as an added benefit it grants access for a set period of time to VeeCon (a VeeFriends in-person conference event).
Notable membership NFT projects
Membership NFTs offer a connection point to passions, hobbies, interest groups, or unique real-life experiences.
BFF Friendship Bracelets
BFF Friendship Bracelets offers members access to a supportive community for women and nonbinary individuals who want to learn more about the web3 world. While the community’s perks are still evolving, the initial membership offers access to the virtual network, future events, and the possibility of virtual calls with BFF’s founders. Some of BFF’s founding members include Mila Kunis, Tyra Banks, and Gwenyth Paltrow.
ETHJETS
ETHJETS is an NFT-gated private jet charter membership that states it’s revolutionizing private jet travel by making it more affordable and convenient. Members can charter a flight or hop on an empty leg of a chartered flight. ETHJETS offers three membership tiers that all grant the holder access to booking flights, each with exclusive features.
What are the advantages of using blockchains for membership NFTs?
There are several other advantages of using blockchains for membership NFTs:
Ownership and security
A membership NFT is different than a traditional membership card or log-in because membership information is stored on the blockchain. By using an NFT as the access key to the membership communities, it’s easier to verify membership to the group because the NFT is tied directly to the wallet address that owns or purchased it.
Accessibility and networks
By using a blockchain to store and transfer membership NFTs, it is possible to create a more seamless experience for owning, selling, and buying NFTs.
Authenticity and provenance
By using a blockchain to track the ownership and movement of a membership NFT, it is possible to establish a clear and verifiable record of the authenticity and provenance of the membership access. This can provide added transparency.
Access for as long as you hold the NFT
Membership NFTs provide access to the community or experience for as long as the NFT is owned or the NFT project exists.
Where are membership NFTs stored?
Blockchains store NFTs. You can use an NFT-compatible crypto wallet to access your NFTs, and you can view them on OpenSea once you’ve connected your wallet. OpenSea is compatible with multiple wallets. An easy way to remember the role a crypto wallet plays is to think of it as your unique address on the blockchain — it allows you to send, receive, and store items.
How can I explore and buy membership NFTs?
You can find all Membership NFTs on OpenSea’s Memberships NFT section on OpenSea.io. Click “Explore” and then “Memberships.”
In order to buy an NFT, you'll need a crypto wallet and cryptocurrency (or, in some cases, just a credit or debit card). Using OpenSea, you can instantly buy items listed for sale, bid in auctions, or make offers on NFTs.
While we highlighted a select few Membership NFTs, their range and variety is vast. Proof Collective is a membership for art collectors. Party Degenerates provides access to digital artists, DJs, events, and experiences worldwide and in the Metaverse. Crypto Bull Society is carving a space for those interested in personal development and finances. The list is as long as the niche interests that exist in the world, physical and web3.
🧠 Q&A
NFTs operate on blockchain technology, making it possible to verify their ownership and easily transfer them from one owner to the next. Ethereum, Solana, and Klaytn are three examples of blockchains that store NFTs.
A blockchain is a digitally distributed ledger that records transactions and information across a decentralized network. Most blockchains are verified by many nodes (read: computers), which is why you’ll hear them described as “decentralized.” Different blockchains may verify their transactions using different methods but ultimately operate similarly.
Blockchain technology allows users to easily transfer, collect, and verify their NFTs. The provenance of an NFT is one of its biggest advantages.
Web3 technology is still new and constantly evolving, so while no single action guarantees protection, there are best practices that can help. The best rule of thumb is that if something looks too good to be true, it probably is. Never share your wallet’s seed phrase, be careful when taking actions using your wallet, and make sure to thoroughly evaluate NFTs before buying.
OpenSea also has an icon visible via a blue checkmark badge on a collection or account. A blue checkmark badge on an account means that account has been verified. A blue checkmark badge on a collection means the collection belongs to a verified account and has significant interest or sales. (OpenSea does not endorse verified accounts or badged collections, and OpenSea makes no representations regarding the NFTs in a verified account or badged collection.)
OpenSea makes no representations or guarantees regarding the collections highlighted in this article. Users must do their own research and use their own judgment before buying any NFT, including those included in the collections highlighted in this article. The descriptions of the collections highlighted in this article were adapted from descriptions provided by the NFT creators, not OpenSea.
In web3, the term “gas fee” refers to the payment needed to execute transactions on the blockchain. OpenSea doesn’t control gas fees, set gas fees, or receive any of the gas fees incurred by users on the platform. Instead, they all go to network validators or miners. When you start the NFT purchase process using OpenSea, you’ll see the gas fee broken down by your wallet provider, so you can watch the fee refresh and complete the transaction when it’s low.
Sign up for our newsletter
Join our newsletter to get web3 news, updates, interviews, and deep dives all in one place.
