WTF is a POAP?

March 23, 2022

The future of POAPs is worth collecting

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POAP just raised $10M.

The company has now worked with over 100 events, sending out 7,000 badges as of March 2020.

Wait, WTF is a POAP?

A POAP (Proof of Attendance Protocol) is a unique NFT as proof of attendance.

Many crypto communities have started giving out POAPs for free when they hold an event.

Each badge is unique, and the only way to get a certain POAP is to be at the event.

POAPs document your life experiences.

2019 ETHDenver is the first event that adopts POAPs. The protocol was developed for the preservation of memories as digital records.

To be worthy of a POAP, an event needs to be social and time-bound. POAPs are minted for creating memories and equity shared by holders.

Then it became a thing in Web3.

To date, more than 2 million of POAPs have been minted!

Now with $10M, POAP will come to more events!

Taking safety into account, POAPs are minted through an official smart contract. POAP is now the most used Ethereum application that isn’t doing anything monetary.

3 reasons why you’d want a POAP:

1. Crypto communities use POAPs to reward members.

POAPs showcase your engagement in the community.

And brands and DAOs try to build closer relationships with loyal members.

Bankless DAO airdrop tokens to members who had claimed Bankless POAPs in the past.

2. POAP collections are the new decentralized identities.

POAPs could be your new CV in crypto!

Employers would know how you support the community through POAPs collections.

SushiSwap AMA host 0xTangle has discussed making POAPs as people’s blockchain résumé.

3. POAPs give you access to more events.

One thing you might already know about Web3: community is important.

POAPs can be the connections with you and groups!

VIP parties, communities polls, or exclusive events, you never know!

Events that POAPs have been to:

More POAPs events 👉https://app.poap.xyz/admin/events

Key takeaway:

🧐 POAPs have the potentials to surge in Web3.

What’s your favorite POAP?

Sources

https://www.coindesk.com/learn/poaps-what-is-a-proof-of-attendance-protocol/

https://cryptobriefing.com/what-are-poaps-and-why-should-you-collect-them/

https://medium.com/poap/poap-inc-raises-10m-to-accelerate-human-development-a2e36783258d

https://medium.com/poap/what-is-poap-d7e8fdfc207d

https://decrypt.co/90689/ethereum-nft-badge-app-poap-10m-seed-raise

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