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What is a community token?
A community token is a blockchain-secured membership that grants access to an online community. When we talk about social tokens, we’re talking about a method for creators and brands to monetize products or services. They do this by minting a digital token that comes with certain privileges. A community token is a type of social token that monetizes community membership.
One of the benefits to community tokens is that your membership in a community becomes a sort of asset. You can resell the token–sometimes for more than you paid for it. This makes it feel like an investment instead of just an expense.
For example, let’s say a community token comes with the right to join an influencer’s mastermind. If that influencer grows in popularity, more people want to join. But perhaps it’s a limited, 10-person, mastermind. You could resell it to someone else for more than you paid for it.
You can build a token-gated community on Mighty.
Now Read: The Ultimate Guide to Building an Online Community