NFTs, also known as nonfungible tokens, are digital assets that constitute real-life objects like music, art, in-game items, and videos. The developers create them with the same software they use to generate other cryptos. They are generally purchased online, most often with cryptocurrencies.
The popularity of NFTs has been escalating among the crypto communities over the past few years. But unfortunately, people generally picture them with heavy price tags and absurd profile pictures. But, it doesn’t have to be so all the time.
What Is POAP NFT?
The POAP NFT is a unique digital collection that helps you memorize your attendance at an event or other life experiences. First introduced on ETHDenver, the POAP platform works on the Ethereum blockchain network and provides proof of attendance to any event.
POAP stands for Proof Of Attendance Protocol, which is an NFT. The minting of this NFT is on the xDai sidechain. Poap NFTs are used to track and prove attendance to both virtual events and real-life moments. The POAP ecosystem is often called “an ecosystem for preserving memories.”
With time, people can avail themselves of a collection of POAPs that acts as proof of their virtual and physical life experiences on the blockchain. They create it as a next-generation document that stores and preserves your special moment. Gradually, with time, POAP NFTs are becoming more popular as digital collectibles.
How Can You Claim A POAP?
Claiming a POAP NFT is simpler than you think.
- First, you must log in to the POAP app, search for the ‘Mint’ button and click on it.
- Then, you can scan either a QR code or enter the code manually.
- You can also claim POAP by tapping on a direct link where you will have to enter your ENS name, ETH address, or email address. But, you must remember that your POAP NFT will not get immediately minted if you are using only your email address.
- After completing this process, you will get a popup to select the claimable POAPs.
- Next, you need to search the ‘Claim POAP’ button, tap it, and you’ll receive an email shortly after. The email will contain a link that will ask you to enter your Ethereum wallet address to claim all the remaining POAPs. Your email helps generate POAP NFT’s claim code that allows you to claim your POAP.
POAP NFTs provide several claiming options depending on the event organizers and the type of event. Remember that the organizers automatically send you the unique badge if you enter your Etherium address while signing up.
The organizer can also send you your POAP badge after scanning your wallet QR code for physical events. You can also avail of your POAP via an intranet-only decentralized application, which is also known as ‘Dapp’ and a secure Wi-Fi network. It will prompt a message with instructions on claiming codes and badges.
How Does a POAP NFT Work?
The mechanism of a POAP NFT is quite simple. A specific protocol named Proof Of Attendance Protocol is a way to mint this NFT. There are mainly three requirements for an NFT to be POAP.
- The POAP smart contract address must mint these NFTs.
- It should have metadata related to the date and time that lasts one year.
- It should also have an image attached to it.
After creating POAP NFTs, the event organizers decide how they will experience distribution:
- They can set up signs with QR codes.
- The participants can download their claimable NFTs at the POAP event.
- The event organizers may also send users a direct download link via email.
POAP NFTs now operate on the Gnosis chain from October 2020, which is cheap and faster than Ethereum. However, Ethereum has higher transaction fees that most of you will try to avoid at some point.
On the other hand, you will be able to view your POAP. You can see all the POAPs listed for the public on the POAP’s event page. You’ll be able to collect a few of them if you are on the list to claim those.
Why Do You Need A POAP?
A POAP collection can enable you to decentralize your online identities. POAP NFT holders may also enjoy added benefits regarding financial aspects and community perks.
POAP rewards are an excellent way to build long-term healthy relationships for future events. Often, these added advantages help the customer feel a part of the community and value the services of the POAP collectors. Benefits like more tokens and invite to an exclusive event are a fun way to appreciate the community of POAPs.
There are several other advantages of the POAP work, such as:-
Value of Privacy
There has been a constant violation of classified user data by some corporate tech giants. Their global users deeply value privacy. The basic cryptography and the spread-out network of POAP authorize people to collect and cumulate their life moments without sacrificing their secular rights.
Managing Subscriptions
POAPs are very useful for event organizers in managing subscriptions. The organizer store POAPs for future value and vast reaching potential. They might feel positive thinking that they have a direct connection with their audience, rather than emailing them with a small amount of engagement.
Owning Limited Period Assets
POAPs value increases if you connect it to the legacy of historical events or aesthetic milestones.
How to Use POAP NFTs?
POAPs work in several ways. First, you can use POAP NFTs as proof of attendance at any event, which can be both real-world and virtual. In addition, it serves some special perks. A few examples of them are:
- POAP NFTs are given out to the attendees of cryptocurrency community conferences to keep track of them. The online groups distribute POAP NFTs to the attendees at the monthly or weekly meeting as an attendance protocol.
- In addition, some blockchain games are using POAP NFTs to celebrate special events.
How to View a POAP?
Viewing your POAP NFT is easier than you might think. First, you must visit the POAP scan page, where you can log in with your Ethereum wallet address or input your email address. That will lead you to the page where you can view your POAP on your web browser.
There is also a POAP app available on the mobile. You can download it on both iOS and Android devices. Similarly, you can also view your POAP NFT in the MetaMask mobile app, which has an inbuilt POAP imaging feature. The development of the POAP app is still ongoing to make improvements and enhancements.
Is NFT POAP Worth Anything?
The creation of POAP NFTs was not for trading purposes. These NFTs are a form of personal collectibles that a person holds for themselves. You can, however, sell them if you want. The trading takes place on xDai and OpenSea platforms. Other NFT marketplaces are also suitable for buying, selling, or trading POAPs. It can be a way of incentivizing the POAP NFTs.
How Much Does It Cost to Make a POAP?
Issuers of POAP NFTs can distribute them free of cost to make it a fun way to get NFTs without spending anything. They have vast growth potential. Since they are for memorizing a special event or experience, they do not cost money. So if you want to create a POAP for your event, it would not cost you anything.
Final Words
The concept of POAP NFTs is still unknown to the majority of people. Its development is still at a very early stage. More and more organizers need to start using it. As a result, the market of POAP NFT will expand, and people will come to know about it.
At this stage, POAPs are a fun way of using NFTs. It makes the work of event organizers easy as they use them to distribute collectibles at many events of historical significance. In addition, POAPs are a way to record some significant milestones. Soon people will realize its worth and start investing in them in the future.
