POAPs are better known as Proof of Attendance Protocols. So in essence, POAPs are unique NFT badges that are given to people who attend virtual and real-world events. Given that these badges are unique, an individual can only acquire one by attending a certain held event. Once you start collecting these POAPs, you can showcase and document your experiences through the crypto space.
The ERC—721 standard, which you’ll find with NFTs, is also used to create POAPs. There are some factors and criteria to take into consideration for a POAP to be classed as an NFT. So POAPs need to be minted through a POAP smart contract, contain metadata to a specific date and time, and also have an image associated with it.
The beginning of POAP
POAPs were first introduced back in 2019 at the ETH Denver Convention. Volunteers organized mostly the event largely relied on donations from various groups of influencers, developers, and organizers. They had their convention hackathon, which some hackers attended. Now for them to thank the hackers who attended, each one was given a POAP as a reward.
The aim of the convention of to showcase what Ethereum can achieve compared to its competitors. Well, it’s believed that badges of attendance, like POAP, are a prime example. They still run the convention 100% on volunteers getting contributions from some of the top coders, organizers, and influencers in the crypto space.
Even though the Ethereum blockchain had the honor of issuing the first POAP, their sidechain xDai has been generating POAPs since October 2020. They built xDai for rapid, low-cost transactions, so using it to mint a POAP will require little money. That is the reason they give many POAPs away for free, depending on who qualifies and the type of event you are attending.
The various use-cases of POAPs
Whether you’re an event organizer or a collector, there are multiple ways you can use POAP to your benefit. Let’s start with an event organizer. When organizing an event, you want to offer the community something special as well as encourage engagement.
This is your answer. It’s the perfect way to show the community you respect their support and offer another form of engagement other than just attending the event. You can even go as far as to create your event on the POAP platform with customized designs, showing the products you plan to offer attendees.
Now, as a collector, you can show off your POAP as a record of some of your greatest moments, all while digitized into a collectible token. This is possible through special QR codes in POAP sponsored events. This will not only allow you to collect the badges but also participate in event activities and other giveaways.
You’re probably wondering what is the uses of POAPs are?
You can get an NFT badge doesn’t matter if it’s a virtual event or a real-world event. They still issued them as proof of participation. And so the only way to acquire one of these POAPs is to attend a certain event, also because each badge is unique.
If you are a collector of POAP or thinking about it, it’s a wonderful way to record your experiences in the crypto space or real world. The way it becomes a collectable is because they register them as ERC—721 NFT tokens. This means you can buy, sell, or trade them on the POAP platform.
These badges are unique in how you can show off your achievements and status within the crypto space. Users can have their badges on display on the platform for everyone to see and appreciate. This will also give them the chance to trade with other users.
Collectors get the chance to bookmark their life experiences while connecting with people who have similar interests. Users can also use the POAPs to access private chat channels as a way of verification that they have the knowledge to enter said chat channel.
Why you should start collecting POAPs
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Collecting these badges is entertaining. It also has the possibility of larger potential down the line. POAP has changed for certain users to show it as a form of decentralized identification. Each individual’s collection is unique, especially for users who have been collecting it from the first launch.
There is a big factor to take into consideration for these POAPs to work. Organizers have to guarantee that each attendee will only receive one POAP. And that everyone who didn’t attend the event cannot receive one. People will always follow something scarce.
As time goes on, each POAP will only raise in strength and validity, especially with events that are more for people of influence. POAPs also have the potential to evolve into a form of value. Let’s take an example, the first-ever ticket issued at Disneyland. The prices must be sky-high by now. If you are looking at it from the perspective of a rare collector’s item.
The first POAPs ever issued might be worth a lot, but only time will tell. Once the metaverse is at optimal speed, the earlier Ethereum events have the potential to be of high value.
What you can take away from POAPs
Using POAPs has progressively increased. These badges have the potential to help reinvent the identity in the crypto space for users. This is all thanks to their many uses and low entry points. The entire world of NFTs has an infinite source of features and new possibilities to create value.
If you’re looking at the costs of some NFTs and what people are willing to pay for them, you might think you’ll never be able to own one. But if you want to get started in the NFT space, the POAP is an excellent way to get started. This is because POAPs are reasonable in price and some can be for free. The only downside is that it’s not “exclusive”. With that said, though, it still carries value in the life journey you have.
· What is an NFT POAP?
These are exclusive Ethereum-based badges given to individuals for attending certain events.
· What is a POAP token?
They registered it as an ERC—721 NFT token, which means it gets recorded on the blockchain into your wallet. Think of it as something special you get to take home to remind you of the experiences you had at a certain event.
· What is POAP protocol?
The badges that you receive are exclusive NFT badges for attending an event.
· How do you get POAP?
When you attend the POAP—sponsored event, the event organizer will provide you with a QR code which you scan to claim your POAP using your Ethereum wallet address.