Decoding POAP: A Comprehensive Guide on What It Is and How It Works

Decoding POAP
Explore what a POAP is, how it works, and how you can claim your POAP NFT.

The digital revolution has given rise to innovative applications of blockchain technology that bridge the virtual and real worlds. One such innovation that is gaining momentum is the Proof of Attendance Protocol (POAP), a system for minting non-fungible tokens (NFTs). POAP words are verified proof of participation in events. As online and hybrid events become increasingly common, POAP takes advantage of the capabilities of blockchain to create digital collectibles.

In this comprehensive guide, we will cover everything you need to know about POAP NFTs and how they are transforming events and community engagement. You will learn exactly what POAP is and how the protocol functions. Its utilities and benefits for POAP NFTs include step-by-step instructions for claiming and showcasing POAP NFTs. 

Whether you are an event organiser or an NFT enthusiast, this guide offers invaluable insights into the rapidly rising trend of Proof of Attendance tokens. By the end, you will have a complete understanding of this innovative technology that operates at the intersection of blockchain, NFTs, and real-world events.

What Is A POAP?

Proof of Attendance Protocol (POAP) is an open-source, decentralised protocol developed on the Ethereum blockchain. It enables the creation and distribution of non-fungible tokens called POAP NFTs. These NFTs verify that someone attended or participated in a specific event or community.

Unlike typical NFT art and collectibles, a POAP NFT acts as a digital memory that memorialises participation in gatherings ranging from small local meetups to massive global conferences. Event hosts can easily create customised POAP NFTs for their events. The NFTs are then distributed to attendees on the blockchain to commemorate their permanent participation in the event.

What Is A POAP NFT?

A POAP NFT is a non-fungible token minted via the Proof of Attendance Protocol. Each POAP token represents attendance at a particular event.

POAP NFTs contain metadata that specifies details of the event, like the date, location, host, event name, etc. They serve as immutable records stored on a blockchain that can prove you attended an event.

POAP NFTs function as digital mementoes and verifiable attendance badges rather than having an intent on artistic value or trading potential. Their purpose is to capture shared experiences and build connections, not profits.

However, because POAP tokens feature cryptographic proof and scarcity by design, they can still hold significant sentimental value for collectors over time.

As POAP NFTs are unique, non-fungible digital collectibles, they have several key characteristics, like:

  • Indivisibility: Each POAP NFT is a one-of-a-kind token, impossible to copy or replicate.
  • Authenticity: The NFT provides cryptographic proof, guaranteeing your attendance at the event.
  • Scarcity: Each event issues a limited number of POAP NFTs, ensuring exclusivity.
  • Customisability: You can personalise your POAP NFT with text, images, and other details.

How Does A POAP Work?

The POAP protocol involves a simple yet effective system to generate attendance-proof NFTs. This can be detailed as: 

Event Creation

The event organiser signs up on POAP.xyz and creates a unique ID for their event. Details like attendance mode, number of NFTs, and custom branding are configured.

Claiming POAP

During the event, attendees can claim their POAP NFT through various methods, like scanning a QR code, signing cryptographic messages as proof, or receiving a POAP link via email.

Minting

Once attendance is verified, the smart contract mints a POAP NFT and transfers it to the attendee’s wallet.

Distribution

Attendees can view and access their POAP NFT through compatible wallets like MetaMask. It remains in their wallet permanently as an official verification of their participation.

The POAP protocol uses a multi-signature cryptographic system to create NFTs linked directly to specific events. This makes it possible to distribute digital memorabilia in a reliable and exclusive way.

What Are POAP NFTs Used For?

POAP NFTs have several popular use cases. The most typical use cases for Proof of Attendance Protocol NFTs are as follows:

  • Attendance Verification: The primary purpose of a POAP NFT is to prove you attended a certain event. POAPs serve as digital memorabilia of participation.
  • Access Control: Organisers can grant holders of an event’s POAP exclusive access to future events or content. POAPs become tickets or keys.
  • Loyalty And Rewards: POAP NFTs can signify membership eligibility for loyalty programs, discounts, or other perks.
  • Collectibles: Fans can collect and trade the POAP NTFs on marketplaces due to their exclusivity and event significance.
  • Reputation: Wallet holders can publicly showcase POAP NFTs to highlight their community involvement.
  • Building Event-Based Communities: Brands can build communities around their brands and products by connecting attendees to the event.
  • Capturing Shared Experiences: The NFts are on the blockchain, and the NFT holder can view them forever.

How Can We Distinguish POAP NFT Users?

POAP NTFs are unique methods to give exclusive badges to the event attendees. Users prefer POAP NFTs as it is more convenient as well as show a sense of exclusivity.  

POAP NFT users can be distinguished into two main types: 

For Event Organisers: POAP NFTs offer new options to engage their audiences before, during, and long after events conclude. The ability to timestamp participation and mint collectibles makes promoting events more exciting. Post-event, POAPs encourage community growth and loyalty among participants.

For Attendees: POAP NFTs allow attendees to showcase and relive fond memories. They also gain added benefits and access by collecting POAPs from favourite events and communities over time.

Real-life Use Cases For Proof Of Attendance Protocol NFTs

Different organisations use POAPs at their events. Here are four best examples to help you better understand the real-world applications of Proof of Attendance Protocol NFTs.

1. Lottie London's Metaverse Makeup Party

Makeup brand Lottie London issued POAP NFT tickets to their first Metaverse event in Decentraland. The limited-edition POAP badges granted exclusive access to the 2,000 first attendees of the virtual party.

2. Decentraland Events

The metaverse platform regularly distributes POAP NFT badges to users for exploring different areas and attending special events around the world. Users can also get POAPs for attending a specific event or completing a special challenge.

3. Estée Lauder's Decentraland Exclusive

Luxury brand Estée Lauder gifted POAP holders exclusive access to upcoming Web3 activations after attendees claimed NFT badges at their Metaverse Art Week location.

4. BanklessDAO Airdrop

Crypto community BanklessDAO awarded governance tokens via an airdrop to members who had collected POAP tokens from previous Bankless events. More POAPs meant more rewards.

Benefits Of POAP NFTs - Why Hold A POAP?

There are several strategic reasons both organisers and attendees may want to utilise POAP NFT systems. They are

1. Enhanced Privacy

POAP tokens do not reveal any private information about holders publicly without consent. Users have control over which data to share since all metadata lives on-chain behind cryptography.

2. Unique Digital Collectibles That Last Forever

Every POAP NFT contains encrypted metadata, making it impossible to duplicate or alter. Thus, it can serve as reliable proof of attendance and event memorabilia forever.

3. Build Communities

Collecting POAP NFTs allows you to access and engage with exclusive communities of other attendees before, during, and after events. It cultivates shared experiences and relationships.

4. Ownership Of Limited Edition Collectibles

The scarcity of POAP NFTs and the significance of the events tied to them make them appealing and valuable collectibles for attendees.

5. Boost Audience Engagement

Event hosts can leverage POAP NFTs to make their events more engaging and interactive for audiences before, during, and after the event. This drives participation, loyalty, and community growth.

How To Claim a POAP

Brands distribute POAP NTFs for participating in their events. If you want to obtain a POAP NFT, here are step-by-step instructions:

Step 1: Attend The Event

Register for the event through official channels to get POAP access. Depending on the event, physical attendance or virtual participation may be required.

Step 2: Get Your Wallet Ready

You can set up a compatible digital wallet like MetaMask and prepare to receive the POAP. Then, fund it with some ETH to cover gas fees.u

Step 3: Follow Claim Instructions

Follow the exact POAP claim instructions provided by the event organisers. This usually involves scanning a QR code or signing a message.

Step 4: Accept the Transaction

When the POAP transfer transaction prompts, accept it to add the POAP to your wallet.

How Can You View And Showcase POAP Collectibles?

Once you have received the POAP NFTs in your wallet, there are various ways to view and show them off.

  1. To view the POAPs you have collected, visit the official POAP SCAN page. This allows you to view your POAPs in your web browser. On this page, you can connect an Ethereum wallet or input a wallet address or your email address.
  2. You can also view POAP NFTs on any interface that supports Etherscan or OpenSea. To do so, you can enter the Ethereum wallet address or directly link to MetaMask or WalletConnect.
  3. POAP also offers a mobile app for both Android and iOS devices that you can download to view your POAP.

Once you have connected your wallet to POAPs, you can show it off.

  • Share On Social Media: Platforms like Twitter allow you to showcase your POAP NFT directly to followers.
  • Display In Galleries: Digital galleries like POAP.Gallery lets you showcase your POAP collection to the world.
  • Integrate With Apps: Some apps, like Discord, let you sync your POAP NFT as a profile badge.

Do POAPs Have Value?

The fundamental objective of POAP NFTs is to record your experiences. It is like a form of digital memory for your life to recall fondly important events you were a part of and things you’ve done.

The other reason is the monetary benefit of collecting POAPs. Many communities incentivize collecting and holding POAP NFTs.

Sometimes, collecting POAPs can also earn you money. Rare NFTs and collectibles are valuable and can get you a lot of money. If you have a unique POAP badge from an exclusive event, you can sell it for a good price.

For example, platforms like SushiSwap distribute badges to engage with members. This was for the users who attend weekly community meetings, participate in Ask Me Anything (AMA) sessions, or vote on governance proposals.

How To Set Up POAP NFTs For An Event?

You can create an account and follow these simple steps to set up POAP NFTs for your event.

Step 1: Create A Graphics File

Design a 500×500 PNG or APNG image to represent your POAP NFT design. Can showcase a badge, logo, mascot, etc.

Step 2: Upload The Graphics File

Visit the POAP Back Office, then “Create New POAP,” and upload your image.

Step 3: Add The Event Details

Enter information like event name, date, location, website, distribution method, and other relevant metadata. Also, mention the number of NFTs you want to mint. Remember that the number of mint links you have should match the number of people who can claim your POAP or who will be present at your event.

Step 4: Get A Claim Link

Once you fill out the details, you will receive edit access and a unique POAP Claim Link for attendees.

Step 5. Make Changes If Required

Use the edit code if you need to modify any details later. The POAP team will review and approve your campaign before it goes live.

Once approved, share the claim link for your branded POAP NFT with the event participants. Now, attendees will be able to seamlessly claim their NFTs as proof of participation in your event!

The Future Of The Proof Of Attendance Protocol

While still in its early stages, the Proof of Attendance Protocol offers glimpses of exciting possibilities at the intersection of experiences, engagement, and blockchain. POAP NFTs offer an innovative way to record participation in memorable events on the blockchain forever.

As virtual events and Web3 spaces rise, expect POAP adoption to grow even further. NFT event tickets and badges make participating more engaging while providing verifiable records.

For collectors and brand communities, POAPs build sentimental value associated with experiences. More businesses can leverage them for future retention and loyalty initiatives.

Conclusion

Proof of Attendance Protocol NFTs are a relatively new innovation in Web3, yet the method currently offers some interesting opportunities for event organisers and attendees. As more and more organisers explore POAPs, this trend will grow. Also, as a user, it is beneficial for you to collect unique POAP NFTs, which you can trade and earn money.

However, earning money from selling NFTs or trading crypto attracts taxes in several jurisdictions. Manually checking and calculating taxes can be complex. To automate your calculating and reporting crypto tax, you can use KoinX. KoinX integrates with crypto exchanges and Web3 wallets and calculates your taxes seamlessly. Join KoinX today and make your crypto journey easier.

Frequently Asked Questions

Let’s answer few of the frequently asked questions related to POAP:

What is the Meaning Of POAP?

POAP stands for Proof-Of-Attendance Protocol. It is a mechanism for distributing crypto-badges that you can use to record and represent specific events.

How Do I Receive POAP as an Attendee?

Depending on the event organiser’s choice, you can receive a POAP either through a QR code or a URL with the claim code. You need to scan the QR code or enter the URL in a web browser to claim the POAP NFT.

Can I Create My Own POAP NFT?

Yes, you can create your POAP NFTs. First, you need to create an account and design an image for your collectible. Now, you have to fill out all the required information related to your event and submit it. Once approved, you will get your POAP NFT claim link.

Can You Sell A POAP?

Yes, you can sell your POAP NFTs. But POAPs are primarily meant to record experiences, not for financial gain. However, if you want to sell it, you can list your POAP on OpenSea or other sites and sell it as an NFT.

What Is The Difference Between NFT And POAP?

POAP stands for Proof of Attendance Protocol, whereas ad NFTs are Non-Fungible Tokens. A POAP NFT is a unique type of NFT that shows you have attended an event or experience.

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