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With the onset of NFTs that run on the blockchain network, a new yet secured way to guard the ownership rights of assets has been found. With every passing day, the progression in the type of NFTs and the value they possess keeps us absorbed. Any individual with any type of asset they own can mint them into NFTs and fix a sale price. Further, the utility values that tow along stimulate the trading volume of these digital tokens.
We know the use case of NFTs is wide especially, they’re no more restricted to securing the ownership of artworks alone. Along these lines, POAP is a recent entrant in blockchain technology, which is a protocol that is applied to develop digital memorabilia or badges to recognize the holder that they attended a meetup/event - be it physical or virtual. If you are stirred by the Proof of Attendance Protocol development, we can help you with that.
Proof Of Attendance Protocol, as the name suggests, is a protocol used to mint Non-Fungible Tokens on the Ethereum blockchain network. Simply put, POAP is an ERC-721 token that is developed and distributed to event/concert attendees as digital tickets in replacement for traditional tickets. And of course, these POAP tokens are immutable and have unique serial numbers.
Since POAP is a kind of an NFT, it can be traded on NFT marketplaces. But basically, the intent behind the creation of this Proof-Of-Attendance Protocol is to provide event attendees with a digital badge that acknowledges their participation, which further becomes memorabilia. Popular DeFi exchange platform Sushiswap and P2E gaming platform Decentraland have rolled out POAP tokens for their users already.
Event managers will have to rely on the POAP’s official website to mint the digital badges. In order to mint the digital tickets into POAP NFTs, they must contain an image and details regarding the event, like the date and time. Also, to generate those tokens, the event planners will have to pay the required cryptocurrencies from their crypto wallet.
Event attendees, while attending such events or meet-ups, will have to open the application that supports scanning the QR code to get the digital badge, which is the entry pass to the event.
By selling POAP tokens, event organizers will find an attractive way to engage with their community of customers.
POAP can be put into use in multiple real-life situations like meetings, webinars, workshops, public gatherings, etc. Here, we have come up with a precise list of use cases through POAP token collections.
P2E GamesBlockchain games that support the Play-To-Earn business model provide POAP NFTs to players who accomplish a milestone or defeat their peers. Besides, the tokens are provided to those who attend platform-oriented events.
Crypto CommunitiesBlockchain platforms that are entirely decentralized function on the decisions of the users. Such platforms make use of POAP tokens for granting voting rights or reward those users who own the maximum number of tokens. By doing so, engaging with the community becomes easier.
Events/Meet-upsAnd yes, crypto platforms have it on their agenda to conduct virtual events for their users. They can generate POAP tokens for those who attend their events.
In comparison to cryptocurrencies and NFTs, POAPs don’t carry any specific monetary value. However, these tokens can be issued to those who indulge in governance activities or attend community meetings. Besides, they can be issued as rewards or anything that provides exclusive privileges or benefits to its holders.
Firstly, the tokens let the event planners keep track of those who took part in the event. Likewise, attendees will also benefit from these digital badges that act as invites to the meetings, and they can show them as proof of participation.
Since POAP badges are NFTs and recorded on the blockchain, their holders can guard the ownership without the value getting tampered with.
We know that these badges get stored on the blockchain network, and event managers can easily have a gist of their audiences who attended previous events. With this, they can prepare a mailing list and invite them again for future events, thereby creating and engaging with a community of potential audiences.
As an established enterprise in blockchain development, we develop and deliver blockchain, NFT, and crypto projects that align with our customers’ planned requirements. We keep extending our boundaries in the blockchain industry to bring out the latest yet pragmatic business solutions for small-scale businesses and entrepreneurs. Coming to POAP token development, our analysts and developers are working on developing Proof-Of-Attendance Protocols that are already being adopted by crypto communities and platforms as digital badges for their users. You can clarify more deets on this by striking up a virtual meeting with us.
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