The Proof of Attendance Protocol (POAP) makes it possible to create badges and collectibles using blockchain technology.
A POAP user belongs to two categories: event organizers or collectors.
Since POAPs are NFTs, they can be traded on several NFT exchanges.
Besides providing individuals' expertise and educational background, POAP collection can also serve as a reliable blockchain resume.
If you are interested in getting into the NFT space, the POAP is a great place to start.
The Proof of Attendance Protocol (POAP) makes it possible to create badges and collectibles using blockchain technology. POAP is also used to describe collectibles themselves, despite the acronym being derived from the protocol name.
POAP is created using Ethereum blockchain's smart contracts to create an NFT (Non-fungible token). These tokens record and celebrate attendance at events using the ERC-721 protocol.
They are given to attendees for free to establish verifiable proof that the holder attended that particular event. It is comparable to a collection of concert tickets, except that POAPs are digitally secured with blockchains. For instance, a Harvard education or highly successful track record in your field makes you more likely to be trusted by your future employers.
A POAP user belongs to two categories: event organizers or collectors. POAP badges can be made and distributed by event organizers. Collectors can also show their attendance to others through custom, unique NFT badges, which serve to mark moments in their lives.
The first POAPs were introduced at ETH Denver Convention in 2019. The organizers relied primarily on donations from developers and various influencers. During the convention, they held a hackathon involving hackers. As a reward for participating, each attendee was awarded a POAP.
The convention's purpose was to demonstrate Ethereum's competitive advantage over its competitors. As an example, badges of attendance were provided as POAPs. In addition, organizers, coders, and other crypto influencers still provide contributions to the convention through their volunteers.
While the Ethereum blockchain issued the first POAP, its sidechain, xDai, has been minting POAPs since October 2020. xDai was designed for low-cost, rapid transactions, making minting POAPs relatively easy. Due to this, POAPs were given away as freebies, depending on who qualified and what type of event you attended.
Since POAPs are NFTs, they can be traded on several NFT exchanges. However, POAPs serve as proof of attendance at a particular event. In the eyes of the team, POAP is intended to showcase what Ethereum is capable of and to prove to crypto enthusiasts their dedication to Ethereum "before it became cool." As a result, trading POAPs would be contrary to the original use case of POAP.
With POAP, event organizers have a new way to connect with their communities. Event attendees can collect the NFT badges via QR codes, and attendees can also participate in other POAP activities, such as community polls, raffles, and the leaderboard. SushiSwap, for instance, airdropped POAPs every AMA attendee and to those who voted for its governance proposals; Decentraland distributed POAPs to attendees of its virtual events.
The POAP could be used for more than proving attendance in the future. It can be used, for instance, to acknowledge community members' contributions or to provide them with privileges. Besides providing individuals' expertise and educational background, POAP collection can also serve as a reliable blockchain resume.
To confirm that users know to enter private chat channels, users can use the POAPs to access those channels.
The benefits of collecting POAPs
You can have fun collecting these badges. It may also lead to greater opportunities in the future. Each person's collection is unique, especially if the user has collected it since day one.
For POAPs to function, several factors need to be taken into consideration. First, it is the organizer's responsibility to guarantee that each participant will receive only one POAP. This means that everyone who is not present will not receive one. People tend to be attracted to something limited.
With time, each POAP will only become stronger and more valuable, especially when influential people are involved in the event. Additionally, POAPs can become a source of value.
POAPs issued first may become valuable in the future, but only time will tell. When the metaverse starts to take off, early Ethereum events can become very valuable.
Takeaways from POAPs
Over the past few years, POAPs have become more common. The badges hold the potential to revolutionize identity within the crypto community. POAPs also provide a vast array of features and new possibilities for creating value from NFTs.
Given how much some NFTs cost and what people are willing to pay, you might believe you can't afford one. However, if you are interested in getting into the NFT space, the POAP is a great place to start. POAPs can be obtained for a reasonable price, and some can even be obtained for free. The only drawback is the fact that it's not exclusive. Despite this, though, it can still have value.
Author: Gate.io Observer: M. Olatunji
* This article represents only the views of the observers and does not constitute any investment suggestions.
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