NFTs can be used for many things, from transferring ownership of artwork to selling limited edition pieces. One of the more novel but fast-growing applications of NFTs is in building community. NFTs can be designed with specific perks, including exclusive access to online and real-life experiences.
This makes them valuable tools for curating and fostering communities. At least VanEck, the crypto asset management firm, thinks so. The firm has just announced the release of 1,000 limited edition NFTs that are specifically designed to grant their owners access to the VanEck community, as well as events and exclusive research.
Welcome to the Community
Of the 1,000 NFTs that are being released by VanEck, there is some variance in their rarity level and what they can offer. Among the perks attached to them is access to virtual and real-life events, as well as the first look at Van Ecks’ digital asset research findings.
There will be three categories of rarity for the NFTs. These will be the commons NFTs (750 in total), the rare NFTs (230), and the legendary ones (20). These are being created in conjunction with a South Korea-based NFT agency called NUMOMO.
These NFTs, as with many these days, are based on memes. More specifically, they are based on memes of the first U.S. Treasury Secretary Alexander Hamilton, who is referred to i the ecosystem as ‘Hammy’. The memes all reference the character’s journey into the worlds of economics and finance.
Those interested can sign up for the NFTs via the VanEck website and in the week of May 2, they will receive their NFTs and these will, by the end of the month, fully evolve into avatars and reveal the perks that come with them.
Generally, the purpose of these NFTs is to foster the VanEck NFT community.
“Since each NFT in the VanEck Community NFT is unique and scarce in their own right, the use of this NFT allows us to build an exclusive community where members who hold said NFT are invited to experiences and events where they can network with like-minded investors and crypto enthusiasts,” VanEck internal sales manager Matthew Bartlett said in an interview with CoinDesk.
This community-centric attitude is also apparent in the fact that the NFTs are not going to be sold or listed on any marketplaces. Instead, the first 1,000 people to sign up on the VanEck website will receive them.
NFTs and the Power of Community
So much of the emphasis in the NFT space is put on the commercial aspect and how digital assets can be monetized. While this commercial aspect has certainly contributed to the growth of the industry, it is important to note that NFTs can do much more than just make money.
In the case of this VanEck announcement, NFTs are being leveraged to grow communities and further engagement that, ultimately, will benefit the space in the long run. Over time, we will likely see more top companies adopt this approach.