Can Associations & Nonprofits BeNFT from NFTs?

The potential for non-fungible tokens (NFTs) multiplies as we spend more of our future lives in virtual worlds (the metaverse). NFTs are becoming primary building blocks for that world, as seen in my promise of NFTs post.

Consumer brands now are using NFTs as the basis for a richer connection with consumers. Can associations, non-profits, and charities do the same?

Looking into the future, NFTs could be the central digital touchpoint between organizations and their members.

NFTs as Virtual Membership Cards

NFTs can function like membership cards or tickets, giving access to events, exclusive merchandise, and targeted discounts. They also can serve as digital keys to online spaces where holders can engage with each other.

Moreover, because NFTs travel on a public platform, the blockchain, it’s possible to send additional products directly to anyone who owns a certain token, like that given out by an association. All of this gives NFT holders value beyond simple membership — and provides associations with a channel to build a vibrant community around their association.

Stronger Loyalty to an Organization

When organizations create (or “mint”) an NFT with each association experience, it could create a dynamic digital point of contact specific to that experience. The possibilities for expanded loyalty and creative member engagement are endless. Let’s dive into the possibilities.

Cascade Benefits to Owning NFTs

In-person meetups for NFT holders are more frequently taking place, as many did at 2021’s NFT NYC conference. Elsewhere, having a specific NFT in your online wallet might be necessary in order to gain access to a chat room, or a merchandise store. Another association might gift membership, or event access, to those holding membership to certain like-minded associations. If National Association for the Advancement of Colored People (NAACP) wished, it could open its conference doors to Equal Justice Initiative and Human Rights Foundation members, for instance. Without NFTs, though, NAACP might not have as efficient of a channel to broaden its tent, for instance.

NFT creator teams can distribute additional tokens to their NFT holders in ways that expand the product ecosystem: owners of the Bored Ape NFT collection for example, were recently able to claim a free “Mutant Ape” NFTs, which…