The use of POAP NFTs at crypto events is becoming more widespread. Our souvenirs from foreign countries are digital versions of what we bring back home. Here you’ll learn all about POAP and how to buy one.
POAP: what is it and how does it work?
A POAP NFT was introduced as part of ETHDenver, the world’s largest Web3 #BUIDLathon. As NFTs on the Ethereum blockchain, POAPs are generated through smart contracts. This is an ERC-721 token that is created to commemorate and record event attendance. POAPs must use NFTs from their official smart contracts to qualify as POAPs. The blockchain allows people to accumulate POAPs that record their physical and virtual lives over time.
It is crucial to create the Proof of Attendance Protocol before creating a POAP NFT. The protocol is composed of smart contracts.
Every POAP NFT must also meet the following three requirements:
- The POAP smart contract must be used for the issuance of tokens.
- The metadata must relate to a specific date or period, up to one year.
- Event images must be included.
The next step after creating the POAP NFTs is to distribute them. QR codes are a popular method for attendees to scan and download information.
People’s Use of POAP NFTs
- Events in the crypto world
In the case of global crypto conferences such as Binance Blockchain Week or Paris Blockchain Week, you will likely receive a POAP NFT at the front door. As souvenirs from events, these badges are typically simple and easy to take with you.
- Gaming on the blockchain
When players defeat a boss, reach a certain number of hours, or take part in a big event, they receive cosmetic items or badges. Blockchain games also often use POAP NFTs to celebrate milestones or special events.
- Communities in the crypto world
Active members are increasingly being rewarded and incentivized by POAP NFTs. Some communities, such as the DAO, offer special privileges to holders with more POAPs.
- Other than crypto
It’s not just crypto that uses POAP NFTs. Among the many uses for these souvenirs are as mementos for wedding guests or as concert souvenirs.
Are POAP NFTs available for sale?
Since POAP NFTs represent the collector’s experiences rather than their physical appearance, there is no guarantee that you will make money when selling them.
Is a POAP right for me?
Everyone has a different reason for owning a POAP NFT. Many POAPs help them keep track of their lives on a secure network. They are used for reflecting on significant events and accomplishments. The POAPs from major crypto conferences could be valuable in 10 years.
POAP NFTs are usually handed out at events. An Ethereum wallet is required for storing POAP NFTs. You can reserve POAP with your email address if you don’t have a compatible wallet.
POAPs may not be common knowledge to most people, but this case shows how they may be used in the future. Verifying attendance and storing lived experiences will remain the most common use cases. People and communities can also use them to keep track of major milestones, such as births and deaths.