30s Summary

Online communities are important platforms for brand development, with the market value projected to reach $25.48 billion by 2032. However, traditional sources of income like advertising and memberships are waning in favor of more purposeful offerings. Web3 technologies and NFTs present new income-generation opportunities, as exemplified by platforms like Belong. The platform manages memberships and events, providing members exclusive access through holding specific digital tokens. Belong supports a range of payment methods and charges a low sales fee. It has also introduced NFT ticketing for events, reducing fees and automating processes. The future could see a blend of digital and physical economies.

Full Article

Online communities aren’t just for nerds anymore! They’re becoming powerful arenas for conversation and brand development as we all crave more meaningful connections and personalised experiences online. Because of this, more and more people are visiting these kind of websites, boosting the value of the enterprise social networking and online communities market from a cool $10.83 billion in 2023 to a whopping $25.48 billion by 2032. This just goes to show, folks, online communities are hot real estate right now and they need to deliver memorable, money-making experiences.

However, even though the market is pretty peachy, it all boils down to effective ways of making money. Simple ads or memberships aren’t cutting it anymore. Instead, it’s more about offering things that really matter to members, instead of just focusing on the people creating the content.

Web3 technologies and non-fungible tokens (NFTs) are shaking things up. Traditional setups often face issues with high fees, limited ways to pay, and all-around disjointed user experiences. Creators often have to juggle memberships, donations, and content sales across various platforms, which is a real headache.

Here’s where Web3 and NFTs come into the limelight by streamlining the process and introducing new ways to make money. Take “Phygital” experiences; toking gating which only lets those who hold specific digital goodies gain access; or NFT ticketing, which spews out tickets using blockchain technology. These are all exciting new ways of doing things, and they’re paving the way forward.

Stepping up to the plate, Belong uses all this cutting-edge technology to give creators the ability to manage memberships, events, and special content all from one place. It gives members exclusive access to content, events, and interactions by making them hold specific digital tokens. Above all else, this offers members a one-of-a-kind digital collectible that can get them into special events and more.

But that’s not all! Belong is super flexible when it comes to paying, letting members use anything from Apple Pay and Google Pay to credit cards and cryptocurrencies. And with a low sales fee of only 2%, communities can offer better deals and pour more money into creating high-quality experiences.

Belong allows communities to make money from private content by granting verified members access through token-gated systems. Teachers can offer exclusive courses, influencers can chat privately with their followers, or celebrities can host virtual concerts or special announcements. And it’s all only accessible to those who hold specific tokens.

Plus, the platform has come up with a unique model for managing events through its NFT ticketing system. This gives instant payouts and reduces fees for event organizers, meaning tickets are securely stored in your crypto wallet and improving your cash flow. Plus, it also automates things like checking tickets and tracking attendees, making managing events a breeze and reducing the chances of fraud.

So, what about the future? The rise of platforms like Belong could revolutionize the future of digital economies and the mixing of virtual and real-world experiences. As the tools used in Web3 continue to develop, the blending of digital and physical economies could surpass all expectations. Do you belong?

Source: Cointelegraph