PolyientX helps NFT communities create more utility with project reward tokens. The use cases for a reward token are evolving as communities learn to coordinate their efforts.
A few ideas for a reward token include:
Enable exclusive access with tools like MintGate or CollabLand. This is a great way to incentivize your most passionate community members.
Empower the community with decision-making through a system like Snapshot which can be configured to use a reward token as a voting right.
Motivate early adopters of the project by allowing them to mint using the reward token. This is a great way to kickstart sales and create excitement for the project.
Collaborate with another community by using reward tokens as a way to bring new users to both projects. In the upcoming PolyientX marketplace, we aim to make this seamless by enabling the sale of NFTs in a variety of reward tokens.
Seed a token economy by using vaults as a way to distribute a reward token to NFT holders who stake in a project Reward Vault. This serves as a flexible way to incentivize early participation in a project.
Create monetary value for the token on a decentralized exchange. This generally requires the project team to create token liquidity from a part of the project sales.