Tokens With Benefits

Token-Gated Communities

On the latest Modern Finance podcast, Kevin Rose was speaking with the folks from Flamingo DAO which is a collective that invests in NFTs.

Kevin asked at the end what other DAOs and communities people should check out and one mentioned was Friends With Benefits, a Discord community for creative types.

The application page is smart - they make you buy their $FWB tokens on Uniswap before you can apply to join.

I applied on Sunday and it's been 4 days and not yet heard back which would normally be concerning however the cost of the 60 tokens was only ~ $300 (plus gas fees) and I can, at any point, sell back for ETH.

It's like pre-paying an annual membership to a Substack publication where you can get a full refund at any point.

The customer is fully in control and doesn't need to ask permission to have their subscription in Stripe cancelled.

And in this case, the customer is also 'literally invested in the community's success'.

Even though I don't yet have access to the Discord, my tokens work to unlock content that uses Mintgate, such as their weekly community roundup posts << if you click the link it asks you to connect an ethereum address that has 60 FBW tokens.

This is the future folks.

I'll give insight into the community benefits when I'm approved.