Understanding a token-gated application

To understand what a token-gated application is, consider this. There are two worlds: the web3 world and the web2 world. The web3 world consists of blockchains and smart contracts. The web2 world is web applications. The word “token” in “token-gated application” means ERC-20 tokens or NFT tokens. The word “gated” means limiting access (to the application). The word “application” means applications such as web applications. So, a token-gated application means a web application where access to some features is limited using NFT tokens or ERC-20 tokens. If this sounds too complicated, let me simplify it a bit. Let’s assume that there is a web application that you want to use; perhaps it’s a video streaming website, such as Disney+ or Netflix. A user wants to watch movies on this web application, but access is limited. Not everyone is able to watch movies from the get-go. You need...