Bauckham offers this neat explanation of the Nicolaitans of Revelation 2: “The name of the Nicolaitans, followers of Nicolaus, which means ‘conquer the people,’ alludes to Revelation’s keyword ‘conquer’ ( nikao ). Their teaching made it possible for Christians to be successful in pagan society, but this was the beast’s success, a real conquest of the saints, winning them to his side, rather than the only apparent conquest he achieved by putting them to death. Hence the name Nicolaus is aptly explained by that of Balaam (2:14) . . . . Jewish exegesis explaine dthe name Balaam as meaning ‘destroy the people.’”
Nicolaitans thus claim to be showing a way of victory, but in fact point to a way of destruction. Their followers don’t conquer, but are consumed.