POAP, short for “Proof-Of-Attendance Protocol”, is a mechanism for distributing crypto-badges that is used to record and commemorate specific events. A POAP token serves as easily verifiable proof that users were present at the event at the time it occurred.
It is the same principle as to how people are more inclined to believe you are a number one fan of a singer when you collect different concert tickets, meets, and great passes, etc, or if you are an honorary scouts member for collecting different badges representing different events.
There are two categories of users for POAP:
Event planners: Event planners may arrange events, as well as produce and distribute POAP credentials to participants.
Collectors: Collectors may use personalized, one-of-a-kind NFT badges to commemorate special times in their life or to indicate their attendance to others.
By offering a personalized experience, POAP helps event organizers to better interact with their audiences. POAPs not only come in unique designs, but they also come with a variety of built-in features such as raffles and private chat rooms. For example, at our recent GeckoCon event, VIP ticket holders received a special POAP which gave visitors access to enter different raffles and a VIP-only discord channel.
Users may make their own POAP collections to show off their travels. Organizers may modify the looks and items they offer participants by creating their own event on the POAP platform. In order to acquire badges and engage in various activities, users need to hunt for QR codes at POAP sponsored events.
History of POAP and How Does It Work?
The history of POAP dates back to the ETH Denver Convention held back in 2019. The event was mostly organized by volunteers, who then relied largely on donations from groups of influencers, developers, and organizers. POAPs were devised by the event's organizers to reward hackers who were present and participated in their convention hackathon.
The aim is to showcase some of the things Ethereum could achieve that other tech stacks couldn't, and it was is believed that attendance badges like POAP were are one of them. The project continues to be 100% volunteer-driven, which means there is a constant stream of contributions from top coders, organizers, and influencers along the way.
The ERC-721 standard, which is utilized for NFTs, is used to construct all POAPs. However, in order to be classified as a POAP, an NFT must fulfill a set of conditions such as below:
It must first be created using the official POAP smart contract.
It must provide information for a specified time or date, with a maximum duration of one year.
All POAPs must be paired with a picture.
While POAPs were first issued on the Ethereum blockchain, they have been generated and dispersed on the Ethereum sidechain xDai from October 2020. POAPs may be minted for relatively little money since xDai is built for rapid, low-cost transactions. As a result, POAPs are frequently given away for free to everyone who qualifies.
If the user pays the gas price, POAPs can be moved from xDai to Ethereum. Due to the hefty costs associated with Ethereum, most users prefer to leave their POAPs on xDai, where they can be seen via the POAP app.
How Do I Claim A POAP?
Each badge is one-of-a-kind, therefore the only way to claim one is to get it through the following steps provided by the event organizers at an event (typically leading to a web link or QR code). Crypto enthusiasts may quickly amass a one-of-a-kind collection of POAPs that chronicles their adventures in the crypto world.
You may claim your POAP in a variety of ways depending on how they are delivered. We'll go over how to use the website to claim your POAP. Bear in mind that the website name will change after each event, so make sure you’ve got your hands on the right website. Here is how you can claim it in four simple steps.
Step 1: Visit the valid POAP website
Step 2: Key in your email address or Ethereum address to put a hold on the POAP, to be claimed later
Step 3: You may either mint it for free on the xDai network or on Mainnet where gas fees apply
Step 4: Select “Claim POAP”
Why Should I Collect POAP?
POAP offers a unique approach to establish your dedication to Ethereum before it was hip in a developing market like cryptocurrency. Collecting these blockchain badges is definitely entertaining, and they may possibly have larger undiscovered potential.
Users have recognized practical uses for blockchain badges, such as seeing POAP collections as a form of decentralized identification, as each individual's POAP collection is probably unique, particularly for long-time crypto OGs. However for this to work, POAP issuers must guarantee that attendees of the events do not receive more than one POAP and that non-attendees do not receive them in order for this to happen. Every POAP issuance raises the strength and validity of all POAP collection identities as long as issuers serve as trustworthy oracles.
POAPs could also well evolve into a form of valuable collectible in the future. Think about the first-ever ticket issued at Disneyland or the first-ever ticket issued for a Michael Jackson concert; the prices of these tickets are probably sky-high if you are to try and purchase them as they are considered rare collector items. Similarly for POAPs, whoever owns the first few POAPs issued may be sitting under gold mines but only time will tell of its value. POAPs issued in the earlier Ethereum events have the potential to be of high value in the future.
Wrapping It Up
Since the establishment of the project, the use of POAPs has progressively increased. POAPs have the ability to help reinvent identity in crypto, thanks to their numerous uses and low entry hurdle.
The world of NFTs is an infinite source of intriguing features that offers new possibilities for creating value. Compared to some of the crazy costs that people are willing to spend for some NFTs, POAP is pretty reasonable and can typically be claimed for free (aside from gas). While they aren't "exclusive," they are an easy way to get started with NFTs.
So, the next time you attend a crypto event, look out for QR codes to claim your POAP and start your collection!
Regiena is a banker, an avid reader, and part-time freelance writer, currently exploring the realm of blockchain technologies.