The Proof of Participation Protocol, abbreviated POAP (pronounced "poh-ap" or "poe-app"), has grown by leaps and bounds with the NFT space in recent years. Once thought to be a simple platform for issuing commemorative NFTs to Web3 communities, the protocol advanced significantly in 2022 alone, completing a $10 million funding round and getting to work.
However, while POAP has spread throughout the immutable ecosystem, the average NFT enthusiast is unaware of the true power of the single platform. While many people are content to click a link, get a commemorative badge, and move on, few have investigated the potential significance of POAP in blockchain technology and Web3 culture.
As POAP's popularity grows, Chief Communications Officer David Chung and Chief Growth Officer Anthony Bertolino continue to demonstrate the platform's viability in the changing NFT market. We sat down with the duo to learn more about the evolving protocol's technology and team, as well as why Chung and company believe POAP is the "perfect combination of the human condition and Web3."
In a nutshell, POAP is a blockchain-based protocol that allows users to create digital or collectible badges. The company's origins can be traced back to 2019, when it was presented on ETHDenver. POAP, like other NFT marketplaces/platforms, allows users to create NFTs. However, this is a very special and one-of-a-kind badge style souvenir NFT. These NFTs are also known as POAPs.
Yes, the platform itself is called POAP, and the flagship style NFTs built on it are also called POAP. While there are other commemorative NFT platforms similar to POAP, it is important to note that the Proof of Participation Protocol is the first of its kind, which has led to the designation of almost all NFTs of a similar nature as POAP. Consider it a generalization, as facial tissues are frequently referred to as Kleenex.
The POAP platform's primary function is to enable event organizers, project developers, and even ordinary citizens to create commemorative tokens to immortalize events, activations, and memories on the blockchain.
"People have always collected things throughout history." Recently, whether it is baseball cards, movie tickets, or concert tickets. "Or if we go too far back, it'll be like scattering bullets among tribesmen," Bertolino explained. "One of the first protocols for digital collections was POAP." Because it is based on blockchain technology, collections can be stored indefinitely without the need for protection.
POAPs have quickly become a way for organizers to reward event attendees, Twitter Space attendees, NFT dropout attendees, Discord members, and others as the NFT space has grown through 2021. POAPs gained utility as status symbols over time, encouraging owners to collect them on OpenSea for future profit.
POAP has been used by various artists and developers to whitelist headlines for subsequent releases, with Gmoney's Admit One collection being one of the most prominent. POAPs are becoming a backwards compatible prerequisite for attendees of previous events to purchase NFT tickets for future events as they provide more benefits.
However, Bertolino points out that, while portability, transferable resources, and immutable digital ownership are all important features of POAP, as with NFTs in general, the protocol is designed in such a way that only those in known blockchain technology can use it. but also to regular people the likelihood of becoming an issuer This is where POAP truly shines as a representative of widespread NFT adoption.
When discussing the POAP platform's use cases, Bertolino emphasizes that POAPs can be created for any physical or digital activity. "From a large company where you want to gift a digital collection at your booth to a personal event like a wedding or birthday commemoration, or a community event like a Twitter space," Bertolino explained.
"You are free to use POAP however you see fit. You can use it as a token pass, a loyalty badge for the same 10 attendees who come to your event every year, or to create a small personal community. It is easily accessible. That, I believe, is the correct word. "It is open to everyone," Chung added.
POAP is defined, of course, by its commemorative and approachable nature. While these two characteristics may appear insignificant, they are linked to the core values that drive innovation in the NFT ecosystem.
With the launch of Soulbound tokens (SBTs) in 2022, a distinct utility of POAPs has recently emerged. While SBTs, as proposed in part by Ethereum co-founder Vitalik Buterin in an article, have been a shining example of the hidden powers of NFT and blockchain technology, Bertolino believes that POAP is the original proof of the concept of identity and reputation tokens.
"The truth is that, in a spiritual sense, POAP is the original Soulbound token." Just because we haven't created contracts to lock tokens in your address doesn't mean POAPs aren't Soulbound tokens, according to Bertolino. "[POAPs] are your memories, and they are inextricably linked to your soul. It's another matter whether they're linked to your wallet address or not."
While POAPs lack the specific functionality of Soulbound tokens in terms of how SBTs can operate in a decentralized society, they are anchored in the narrative of being real-life achievements and accolades tied to organizations and events, according to Bertolino. The main distinction between POAPs and SBTs appears to be their immutability, as POAPs can be created and traded with anyone, whereas SBTs are said to be non-transferable and safe for one's "Soul Wallet." A single person.
Another distinction between SBTs and POAPs is their level of accessibility. SBTs are inherently inaccessible because they require a strong sense of security to function. Security is obviously important with POAP, but it is also important for any NFT collection or enthusiast in general.
POAPs, according to Bertolino, exist independently of speculation in the NFT space. "Assume you created a POAP for your birthday. There will be no secondary market volume for this because "no one wants to buy it," he said. "So POAP is one of the few use cases where we can see widespread adoption that is not based on speculation and also demonstrates the value of blockchain technology."
Without the need to hoard ETH, send transactions, pay gas fees, and do everything else that comes with being an NFT aggregator, the barrier to entry into the POAP ecosystem is low. And, because POAP is so simple to use, anyone can participate without any NFT knowledge or background. "We are constantly renewing the protocol and experience to make it simpler, more fun, and more friendly," Bertolino explained.
Because the POAP platform is constantly growing, new opportunities for builders are more likely to emerge in the future. In fact, both Chung and Bertolino were optimistic about the future of the POAP platform, though they were unable to explain why.
For the time being, if you want to participate in the POAP ecosystem, you should do so as an issuer or an aggregator.
The POAP Events page is where you create a POAP delivery. Simply click the "Create new POAP" button. Fill out the form on the "Create New POAP" page with your information. This includes uploading the image that will be turned into a badge. It can be PNG or APNG, but it cannot be larger than 200 KB. Use a 500 x 500 pixel round image for the best results.
After filling out all of the required information and navigating the prompts, check your email for the POAP request and edit the codes. Your edit code is required if you need to make changes to your event information or badges.
While you will already have the codes, they will not be activated on the POAP platform until the pre-event approval is received. This procedure usually takes 24 hours. Once your claim codes have been approved, send them to all POAP recipients. You can get more codes from the event edit page if you need them.
To see the available mint options, go to the bottom right corner of the page after downloading the app and tapping the "Mint" button. POAPs can be obtained in three ways: by entering a secret word, scanning a QR code, or entering the last six characters of a mint link. When you select one of these three methods and click mint, the POAP is yours to distribute throughout the metastore. However, keep in mind that POAPs are not minted on the Ethereum Mainnet, so you must move them to the Mainnet by following a simple transaction and sending a transaction.
As the POAP platform evolves, these processes may or may not change. One thing appears to remain constant: the Proof of Participation Protocol and its growing community will continue to be "fun, smart, and connected," as Bertolino puts it.