Proof of Attendance Protocol, better known as POAP, grew side by side with NFTs, however, it was always seen as something simple and less useful and thus was left aside. Recently, this protocol received a funding round of 52 million reais, which gave it space to start to stand out.
What are POAPs
Translating, POAPs are: Proof of presence protocol. Allows users to create digital badges or collectibles using blockchain technology. Like other marketplaces and platforms in the NFT ecosystem, POAP allows users to create NFTs. But this is a very specific and special NFT-style commemorative emblem. And these NFTs are often called POAPs. Whereas, the ERC-721 standard for NFTs is also used to create POAPs. There are factors and criteria to consider when classifying a POAP as an NFT. Therefore, a POAP must be created through a POAP smart contract, contain metadata for a specific date and time, and contain an image associated with it.
Your uses
Firstly, the main function of the POAP platform is to allow event coordinators and project developers to create commemorative tokens to immortalize events, activations and memories on the blockchain. With the NFT space growing throughout 2021, POAP has become a way for organizers to compensate event attendees, Twitter Space attendees, Discord attendees, and more. Over time, POAPs began to become useful as status tokens, which encouraged their holders to collect them to receive privileges in the future. POAP is undoubtedly defined by its celebratory and accessible features. And while these two traits may seem trivial, they speak to the core values that help drive innovation in the NFT ecosystem. Just to illustrate, POAP’s low-key utility emerged in 2022 with the release of Soulbound Tokens (SBT). While the proposed SBTs through an article written in part by Ethereum co-founder Vitalik Buterin have become a shining example of the latent powers of NFT and blockchain technology.
POAPs and NFTs
POAP is separate from speculation in the NFT area: Let’s say you did a POAP on your birthday. There will be no secondary quantities in this market. Nobody wants to buy. Consequently, POAP is one of the few use cases we can see marching towards mainstream adoption that has nothing to do with speculation and also shows that blockchain technology is valuable. If there is no accumulation of ETH, sending a transaction, paying gas fees and all other NFT related things, then the barrier to entry into the POAP ecosystem is low. And because of the ease of use of POAP, anyone can contribute without needing knowledge or context to NFTs. We are endlessly iterating on the protocol and experimenting to make it simpler, more fun, and easier to use. Also read: Launch of move-to-earn Sweatcoin breaks records in the crypto market
How to use POAP
Creating a POAP will take place on the POAP activity page. Just click on the “Build a new POAP” icon. Fill in the information on the “Build a new POAP” page. This includes uploading an image that you want to transmute into a symbol. You can use PNG or APNG, but they must not exceed 200 KB. For best results, use a round image of 500 × 500 pixels. Once you have filled in all the required details and navigate through the prompts, check your email for the POAP identifier and request codes. Your edit code is required if you need to make changes to event information or tags. Since, even if you already have the code, you will have to wait for pre-authorization to start on the POAP platform. This process usually takes about 24 hours. Once approved, send your requisition codes to all POAP recipients. If you need more code, you can get it from the event edit page. These processes may or may not change as the POAP platform evolves. However, one thing seems to remain the same: the Proof of Presence Protocol and its growing community will remain fun, smart and connected. Also Read: Bitcoin Volatility Drops Below the S&P 500 for the First Time Since 2020