Question

This question is two-fold.

First, we want to look for the percentage of holders among different range of FF token.

And second, We want to compare this token model with gated NFT.

Method

I first selected all of the balance information related to Forefront's token, via its contract_address (0x7e9d8f07a64e363e97a648904a89fb4cd5fb94cd) for the previous day (we do not use today's information because it is subject to change).

Using this data, we spread the balances into 100 $FF bins, and extract the floor of each range along with the number of addresses in each bin.

Next, we changed the raw number of addresses to the percentage of holders.

Below is the table of bin_ranges along side the percentage of owners in each bin.

Analysis

As we can see most holders have less than 300 $FF token in their accounts. But there is a meaningful spike at every 100 $FF. Maybe we can extract some meaning from it. Considerable points (at April 20, 2022):

1. Overall, there are 1289 addresses holding $FF tokens.
2. There are 10,008,193 $FF tokens in all of 1289 addresses.
3. The most dominant whale holds 6,886,501 $FF tokens.
4. 21.7% of the addresses have less than 100 $FF tokens. This can be the result of small giveaways, or random purchase.
5. 9.6% of addresses have between 100 and 200 $FF tokens. This can be the percentage of addresses wanting to use the Forefront's Signal service.
6. There is a spike in 200-300 $FF token range, showing 32.9% of holders. This can be the result of previous Airdrops and giveaways.
7. About 6% of holders have between 1000-1100 $FF tokens. This points to the entry fee of the discord channel which was 1,000 $FF tokens, according to https://www.coindesk.com/business/2021/09/16/crypto-media-company-forefront-raises-21m-to-cover-world-of-social-tokens/.

Part 1 - Holders Distribution

Part 2 - Forefront token vs. Gated NFT

Token-gating is digital membership or club access. The membership/access/service are presented to tokenholders who own above a certain threshold number of tokens.

In my opinion, while gated NFT ownership model can have the same benefits in tokenized communities as Forefront tokens, $FF tokens are also swap-able and can be used as a means of exchange in ERC-20 network.