Signalclout #43: Gated NFT Communities
I discuss my thoughts about being part of the Proof Community
None of the information contained here constitutes an offer (or solicitation of an offer) to buy or sell any currency, product or financial instrument, make any investment, or participate in any particular trading strategy.
Welcome to the 43rd issue of the Signalclout newsletter.
The last week or so has been a blur.
It was in December that I wrote about Kevin Roses ProofNFT. Well, I was one of the lucky few who managed to snag one, and since January, the team has been working hard behind the scene. Also, it is nice to see an asset jump 20-35x in value in a couple of months!
However, I believe it is a harbinger of many similar communities that will launch. Most of which will not do so well and will be more of a cash grab than anything else.
We used to buy club memberships to signal association and status. The Millenials of today don't place a similar value on those memberships. Conversations and interactions have moved online, and so have the communities.
While similar communities exist today, there is one big difference between NFT gated communities. In regular online communities, you could potentially share your password with a couple of other people. People put safeguards like OTP confirmations and other measures, which failed or degraded user experience dramatically.
Connecting your crypto wallet to a discord server or a specifically gated page where you can only download, purchase or consume items changes the game. In this newsletter, I will share my experience in the Proof community and what we can all learn.
🪜 NFT Gated Communities & The Future
Most people don't get NFTs yet. They look at an image on your computer screen and ask why should someone pay for it when they can right click and save it to their computer. Most of them are missing the bigger picture as most people did with BTC or ETH. When I saw what one could do with gated communities, that was a big unlock for me. Here are some things that stood out: