POAPs: The Next Hot Trend In NFTs

With the rise of blockchain technology and web3 in the last decades, today’s internet is making huge shifts, mainly from corporate-owned to user-owned systems. The shifts allow creating and sharing information to be rewarding, accessible, and distributed. The human experiences and stories are not only captured and documented but are being rewarded, making every moment counted and worth saving it.

The last decade saw how massive the tech companies had scaled the information and attention of every internet user. Google and Facebook today want your attention by providing you with the information you would like to read and see, but the question is, are you engaging enough with the content?

The new technology that we need today must help increase the depth of engagement with our experiences, create social value on the internet, and get rewarded for it.

POAPS are one of the ways to increase social value. The bookmarks of your life are verified by blockchain.

What is POAP?

POAP, the acronym for Proof of Attendance Protocol, is a protocol that creates unique badges or collectables for events or moments through blockchain technology. POAPs are the attestable stored on blockchain technology that you have attended an event or experienced a moment.

Minted through smart contracts as non-fungible tokens (NFTs) on the Ethereum blockchain, POAPs are ERC-721 tokens designed and created to capture the range of values of human social activities. POAPs are issued as proof of attendance, participation, proof of competence, achievement, or proof of belonging.

Every POAP is a record of human social activities stored on an open blockchain. It verifies that the holders attended a specific event or engaged in a social moment. As the nature of humans seeks social recognition and status, POAP provides just that. Yep, you can now give digital tokens worth of value to everyone who attended your birthdays, weddings, and even your special moments like graduating from university.

Why POAPs?

Think of POAPs as a way for customers to prove their dedication to brands and provide a way to verify the journey they have been on throughout their lives. The more legitimacy afforded to the digital world (think virtual concerts, conferences and webinars that happen in the metaverse), the more value will be placed on proving a person attended an event.

When thinking of how POAPs are being used by brands today, consider this example: You attend a Twitter Spaces event for your favourite podcast, and for attending that event live, you receive a POAP; that POAP goes into your crypto wallet and later allows you access to buy exclusive merchandise from the podcast. It works as a loyalty access pass for customers to gain a unique experience or product.

As POAPs become available to the general public, more brands will start to get involved and come up with new and inventive ways to use them. “For example, a brand may host a POAP shopping event in the future, and anyone who attends receives a POAP that is the only way to be invited to the next event. POAPs allow brands to create unique, exclusive brand experiences leading to more engaged and dedicated customers.”

At the core of it, POAP is worth more than monetary value. It’s a digital token representing feelings and emotions attached to your social experience. To be worthy of a POAP, it must be Social, Memorable, and Time-bound.

How does POAPS work?

For brands/creators:

Anybody can mint POAPs NFT through the official POAP platform. Every POAP contains an image and information related to the event, with a specific date and time. As they are non-fungible tokens, each badge is attached with a unique serial number and is immutable.

For community:

POAPs can be claimed via the POAP delivery platform with your Ethereum address as a digital representation of the holders’ life experiences.

POAPs can also be traded on various NFT marketplaces.

However, the POAPs original use case is essentially proof of holders’ attendance and experience at social value. Thus, selling POAPs is like selling your childhood photos. Intuitively, POAP was built to celebrate our accomplishments, precious memories, and life’s special moments.

For an NFT to be classified as a POAP, it must fit a certain set of criteria:

• It must be minted through the official POAP smart contract
• It needs to contain metadata related to a specific time or date, up to one year in length
• It must have an image associated with it

Here is an opportunity for you to earn rewards by collecting POAPs through #LearnToEarn with Librty.

At Librty, we believe crypto and web3 are the next evolution of the internet. It is also confusing to understand the new technology and differentiate the substance from the hypes.

Hence, we are introducing #LearnToEarn with Librty, a way for you to learn about crypto, web3, and earn. While you pay to learn in your college, we pay “YOU” to learn.

Librty will develop highly curated and valuable content to help you learn and understand anything from web3 gaming, crypto, and blockchain. You have to follow us on Twitter, Instagram, and discord read and engage with our content, and collect POAPs we list.

At the end of every time period defined by us, we will reward our community members who have collected all our listed POAPs with crypto or Fiat money.

Keep learning with us, and watch out at this space for more.