What Is a POAP NFT and How Does It Work?

Introduction

What is POAP NFT? How does it work? Why collect POAP NFTs? Read all about POAP NFT in this post.

What if there was a method to demonstrate and keep track of your attendance to all these diverse experiences, such as clubhouse rooms, discord groups, or attending a concert like NFT?NYC? The NFT network is full of so many followers and specialized events. Thanks to the invention of POAPs, there is now.

What is a POAP?

With the help of POAPs, also known as the Proof of Attendance Protocol, attendees can demonstrate the breadth of their life experiences. Imagine this as the conference lanyard you bring home with blockchain records instead.

POAP collectors receive this digital badge, backed by a cryptographic record in the form of an NFT. Each badge has a distinctive design that adds to its collectability and enables event organizers to charge extra.

POAP was initially developed in 2019 for the Denver convention to thank people for coming and supporting the gathering. Additionally, you can gather POAPs at actual and virtual events. 

An NFT must originate from the official smart contract of the POAP to be considered a POAP. The POAP also needs to have a unique image and contain the metadata for a particular moment.

These digital badges were initially created on the Ethereum mainnet, but in October 2021, they were relocated to the Ethereum sidechain xDai. Users can claim the tokens on xDai by spending little to no gas costs. Additionally, xDai guarantees a speedier transaction.

Why collect POAPs?

The developers of POAP claim that these NFTs have a variety of applications, including community polls and the ability for DecentralizedDecentralized Automated OrganizationsOrganizations (DAO) to vote on ideas, with holders of more POAPs having a more significant influence.

By offering a customized experience, POAP enables event planners and companies to interact with their customers more effectively. Along with offering distinctive designs, POAPs also allow a range of specialized services, including exclusive chat rooms, sweepstakes, and more.

Users can even create their POAP NFT to document their travels and gain bragging rights. One of their best features is the freedom to develop and collect POAP NFTs.

The POAP badge’s designers did not intend for these NFTs to be traded or sold; instead, they saw them as a method for people to demonstrate their loyalty to specific brands and to document their life’s journey.

The idea of POAPs is familiar to you if you’ve ever kept a ticket stub from a concert or perhaps your favourite trip.

How do POAPs work?

There are numerous applications for a POAP. Either as a collector or an event planner. As an event planner, you can hand out POAPs at your gatherings to engage the community and provide value. Your POAPs, as a collector, is a digital record of the defining moments in your life that have been turned into a trackable, collected token.

On the POAP platform, event planners can design and organize their events and the goods they want to provide to attendees and their neighbourhood. To collect badges and take part in various activities and prizes at POAP-sponsored events, collectors need always be on the watch for unique QR codes.

Conclusion

A POAP NFT is a digital badge intended to document particular experiences and events in a person’s life and demonstrate attendance.

By supplying POAPs and any additional benefits that can come with collecting them, makers of POAPs can provide their audience with more value. I wouldn’t be shocked if other sectors, particularly those that operate in the metaverse, opted to use this digital proof of attendance.