POAPs are better known as Proof of Attendance Protocols. These are NFT badges that are given to people who attend virtual and real-world events. These badges are unique, and an individual can only acquire one by attending a particular event. Once you start collecting these POAPs, you can showcase and document your experiences in the crypto space.
In this guide, you’ll learn about POAPs, including their history, use cases, and the impact that they might have.
In this guide:
The history of POAP
POAPs were first introduced in 2019 at the ETH Denver Convention. Organizers of the event largely relied on donations from various influencers and developers. They held a convention hackathon, which saw hackers participate. Each attendee was given a POAP as a reward for their participation.
The aim of the convention was to showcase the capabilities of Ethereum with respect to its competitors. The badges of attendance, like POAPs, served as an example. They still run the convention through volunteers, with contributions coming 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, its sidechain xDai has been generating POAPs since Oct. 2020. xDai was built for rapid, low-cost transactions, so using it to mint a POAP requires little money. That is the reason POAPs were given away for free — depending on who qualifies and the type of event you are attending.
The use-cases of POAPs
The ERC-721 standard, like for NFTs, is also used to create POAPs. There are 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.
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.
POAPs are the perfect way to show the community that you respect their support. They 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.
What are the uses of POAPs?
You can get an NFT badge, and it doesn’t matter if it’s a virtual event or a real-world event, as they are issued as proof of participation. So, the only way to acquire one of these POAPs is to attend a certain event.
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. Badges are collectible because they are built using the ERC-721 standard. 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
Collecting these badges is entertaining. It also has the possibility of larger potential down the line. 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 increase in strength and validity, especially with events that have people of influence. POAPs also have the potential to evolve into a form of value.
The first POAPs ever issued might be worth a lot, but only time will tell. Once the metaverse really takes off, the earlier Ethereum events have the potential to be of high value.
What you can take away from POAPs
The use of POAPs has increased over the past few years. These badges have the potential to help reinvent identity in the crypto space. The entire world of NFTs has an infinite source of features and new possibilities to create value, and POAPs do the same.
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 issued for free. The only downside is that it’s not “exclusive.” With that said, though, it can still carry value.
Frequently asked questions
What is an NFT POAP?
What is a POAP token?
What is POAP protocol?
How do you get POAPs?
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