Non Fungible Tokens are bringing a paradigm shift in the digital world and their use case is evolving with every passing day. They have changed the way, how we looked at the gaming industry, the field of art, the collection of assets etc. Now they are changing how we keep the memory of an event. Read the forthcoming section to know how.
What Actually is POAP? (POAP क्या होता है)
POAP is an acronym for Proof Of Attendance Protocol. It is a modern digital way of keeping record of the experiences and events that one goes through in life.
POAP is a protocol used to create an NFT that is then given to a person, who has attended some event, course or a conference. Such NFT is a badge of recognition for a person, that he/she has attended some special event. The attendance can either be virtual or physical, and the event can be a game, concert, private function or any kind of ceremony.
Imagine that you attend some special event in your physical life and now want to keep some memento of that event to remember it. The memento could be the ticket of the event, the bill that you paid to get some food in the event, or some thing else from the event. The digital version of such a memento is called POAP NFT.
Sometimes, POAP tokens are awarded as Proof Of Achievement Protocol NFTs also, when a participant achieves some milestone in the event or fulfils some preset targets.
So POAP NFT is a unique NFT showing that the owner has attended a particular event or a conference. It is a digital memento created in celebration of remarkable events and achievements of life.
POAP NFTs are yet not so prominent, but they are gaining popularity with every passing day. In this article, we will talk about the historical background of POAPs, how POAPs work, and what is their significance.
Historical Background Of POAPs
The POAPs date back to 2019, when a hackathon called ETHDenver Convention was held in Denver. It was there that the event organisers decided to award POAP to the participants. The POAPs were awarded to show the world the potential of Ethereum, beyond the cryptocurrency itself.
Since Ethereum blockchain is very costly in nature, POAPs have now shifted to the Gnosis Chain, which is an execution layer Ethereum Virtual Machine (EVM) chain. This chain is also environment friendly in nature.
How Does POAP Work
The Proof Of Attendance Protocol NFT is awarded to the participants of those events that carry the POAP badges. If you attend such an event, you can get your POAP NFT either by scanning the QR code kept at the event, or by following a specific lick sent to the participants, or through the POAP application. Once, you receive the POAP NFT, it is stored in the POAP app, where you can access it any time.
The event organisers can mint these POAPs using POAP protocol on the blockchain. Any event organiser can create a digital badge and label it as POAP, but for the badge to be actually POAP, it must satisfy the following conditions;
- It should be minted through the official POAP smart contract.
- It should contain metadata about a specific date or period, which can be upto an year.
- There should be an image associated with it.
Once the POAP NFTs are minted, the organizers can make them available to the participants through QR code, links or in a POAP app. Each POAP NFT acts as a memorable link between the issuers and the receivers.
These POAP NFTs bring along with them a whole world of new possibilities, which are discussed below.
What are the uses of POAP NFTs
Initially, POAP NFTs were considered just a symbol of status that some one has attended some exclusive event. But, now they have found a variety of uses, which are:
- POAP NFTs are used as the entry passes to private events or private groups.
- They are of extreme importance in community polls in decentralised autonomous organisations (DAO),as people with more POAPs enjoy more voting rights. POAP brings voting power back to the masses.
- They show the world that you are a big fan of some brand , and you were called by that brand to an exclusive event.
- The users can make their own POAP collections and earn bragging rights.
- POAP NFTs can be used as gifts or donations to the charities.
These were some use cases of POAP NFTs. With the passage of time, their use case is going to increase just like the other NFTs. So, if you have a chance of earning any POAP NFTs, you should not let go of the opportunity.
How To Create Your Own POAP NFT?
If you want to create your own POAP NFT, you can do so by following the steps given below:
- Go to the POAP website at https://app.poap.xyz/admin/events/new/.
You will land at the homepage.
- Fill in all the details.
The details include What are you commemorating, What do you want people to remember about this drop? etc.
- Upload the POAP artwork.
You will need to upload an image, that should be either in png or gif format. The artwork is recommended to be of 500x500px, round shape, and ofsize less than 200KB (Max. 4MB).
- Enter how many mints do you need and click on the save option.
Your application will be processed.
- Wait for the approval of your application.
Once your application is approved, yo will get a file full of links. Send these links to the persons who have attended your event, and they will be able to get POAP NFTs.
You can also use Opensea to create your own POAP NFTs, but that is a very costly affair.
POAP vs NFT – Differences Between POAP and NFT
By now, it must have become clear to you what exactly is POAP. If you are still confused whether POAP is an NFT or not, then check the POAP vs NFT table below to clear your doubts.
|POAP stands for Proof Of Attendance Protocol
|NFT stands for Non Fungible Token
|POAP is a protocol.
|NFT is a token.
|POAP is a set of rules used to create a token.
|NFT is the end product of POAP.
|POAP as such cannot be transferred between two parties
|NFTs can be transferred between two parties.
So this was all about the POAP NFTs. We are sure that you would have loved reading this article. Share it with your friends.
Also Check: How to invest in NFTs in India
FAQs About POAP (Proof Of Attendance Protocol)
The full form of POAP is Proof Of Transfer Protocol. Sometimes it is also used as Proof Of Achievement Protocol.
POAP stands for Proof Of Transfer Protocol. POAP is used to create a unique badge supported by a cryptographic record and that badge is Non fungible in nature. So POAP is an NFT, that shows that the owner has attended some particular event or conference.
POAP is actually an attendance protocol that is used to create a unique token that shows that a particular person has attended some event where the tokens were awarded. Such tokens are non fungible in nature and are referred to as POAP NFTs.
Yes, POAP NFT can be sold just like any other NFT. However, we encourage you to keep it with yourself as they are the mementos of the important episodes of your life.