On the surface, NFT’s might not seem like a whole lot besides a cool looking cat, a unique looking dog, or a very bored looking ape. Which makes sense as to why many, shy away from the idea of spending hundreds, thousands, or even tens of thousands on them. Nevertheless, the NFT benefits for buyers can be substantial.
To understand why NFT’s come with perks, let’s rewind a moment. Why do NFT’s need perks? What perks for NFT’s? Who makes them? who benefits, and how do you find these “perks” for an NFT collection?
What Are NFT perks?
Perks are often defined as utility and other value that is only available to those that “Hodl” (Hold on for dear life) or buy a typically volatile asset, such as an NFT. In certain collections, the NFT holder benefits can be numerous. Many times, NFTs host unique events for their community that are only accessible after certification of ownership. Another example could be free or reduced-cost merchandize that is on-brand with their NFT’s intellectual property. Perks can take various forms, but at their core, they are just something advantageous to the holder, both huge and small in detail.
Why do NFT’s have perks?
NFTs didn’t use to have any benefits. In fact, many of the most historical and notable NFT collections, such as CryptoPunks, completely lacks utility. In the summer of 2021, we saw a tremendous increase in the number of NFTs that began to “airdrop” new NFTs to their holders, which was a terrific way to add value at the time, as they could sell and earn a pretty penny for these Airdroped NFTs on a secondary marketplace such as OpenSea. However, this practice, and other practices, turned out to be very unsustainable. Many NFT collections struggled following these “airdrops” due to dilution of value for the initial NFT collection. Meanwhile, exclusive events and meetups started taking place near or at certain NFT conventions, such as ApeFest at NFT NYC. This contributed to the burgeoning notion that NFTs gave access to as a form of utility, which is perhaps the most prominent and notable benefit of holding NFTs. Community and culture are the foundations of any successful NFT collection. Many more sorts of incentives and utility have been increasingly developed with up to the present day, such as gaming, whitelists, staking, free software, trading tools, and more, during 2021 and 2022.
Who creates perks for NFT’s?
Many NFTs with perks are made by either the NFT creator and their respective team, or by the community. Most NFT communities welcome community recommendations for new perks, especially if they do not deviate from the roadmap and genuinely benefit those in the community who hold. NFT creators may use a simple tool, such as Tokenproof, to generate token-gated perks for their community on the fly, or they may design their own perk through Hodlperks with additional parameters, such as the minimum days held or the number of NFTs that a holder must own to be eligible for a specific perk with their NFT. Once eligible, unique access can be granted in several ways, such as a unique code, QR code, link, or sign up sheet.
Who benefits from NFT perks?
The community benefits the most from NFT’s with perks, but it’s also important to consider the loyalty and impact it has for the collection as a whole. As a result of constant value being brought to holders, theirs more likely to be a sustained and stable premium on anyone seeking to enter the community due to the lack of sellers. This contributes to more pent up demand, larger volume allowing for more growth, and success for everyone including the creators of the NFT.
How you can find an NFT with perks.
Typically, NFT with benefits is something that cannot be seen in the image. The easiest method to learn about the benefits of having any NFT is to research the NFT creator’s website and roadmap, get involved in the community, and, if you’re still curious, ask a team member, moderator, or staff person who might be able to shed some light as to what perks you can expect for owning the NFT in the appropriate Discord channel. The benefits of holding the NFT are often token-restricted. That is, you won’t be able to use the perk until you can show that you actually own the NFT in consideration. Thus, asking someone in the community or staff directly is the greatest option for getting this information and ultimately finding the best nft with perks that will be meaningful to you. Alternately, if the collection is a Hodlperks Partnered collection, you may check out their hub page on Hodlperks to get an idea of the seamless perks they offer upfront. You can check to see if a collection you own is on Hodlperks automatically, by signing up on Hodlperks and verifying your ownership or by manually by viewing the collections here.
There’s quite often many perks of owning an NFT. It’s simply a matter of what it looks like for each collection as many are very different and unique from each other. We wish you the best on finding or creating your NFT with perks, and want to wish you a very happy Hodling!
-The Hodlperks Team ✌
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