What is POAP NFTs : The Proof of Attendance Protocol NFTs (POAP) functions as digital versions of these keepsakes in the blockchain zone. People tend to gather POAP NFTs as the digital memorabilia as souvenirs in NFT form.
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POAP in Detail
As NFTs have become famous over past few years, at present various people relate NFTs with heavy price tags and strange profile pictures. Whereas POAP NFTs, are not as common knowledge out of the blockchain network. Such NFTs were brought in existence during ETHDenver, the biggest Web3 #BUIDLathon in the world. POAPs are minted via smart contracts as NFTs on Ethereum blockchain. Basically ERC-721 tokens are built for celebrating and recording the attendance of an event. The POWP NFTs are more off named after an ecosystem for storing memories over a period of time. People could definitely have a collection of POAPs which tend to document both physical and virtual life experiences on the blockchain.
Therefore, POAPs could be effectively considered as the next step in saving and securing your life moments. The NFTs so are not every time attractive, neither they tend to break the records for their price. Also, the event organisers tend to give POAP NFTs at no extra costing.
One thing which you should keep in mind about the NFT is that not every NFT is considered as a POAP. Inorder to qualify as a POAP, NFT should come from the official smart contract of POAP, including an image of certain date and time metadata.
Working Of POAP
The creation of POAP NFT is the evidence of Attendance Protocol and such a protocol involves set of smart contracts. In addition to this, there are three basic needs for each POAP NFT:
- With the aid of official POAP smart contract, they should be minted.
- Should hold metadata concerning a particular date or period, till one year.
- It should be related with image linked with an event.
When POAP NFTs are created by the event organiser then the very next step is distribution. Famous method of putting the QR Codes is all about the attendees rapidly scanning and downloading and the event organisers could send the download links to the attendees through email.
For avoiding the Ethereum expensive transaction fees, the POAP NFTs could now work on the Gnosis Chain, specific cheaper and rapid side chain. The Gnosis is yet compatible with Ethereum, where collectors could easily pay the gas fees in case they want to convert their POAPs to Ethereum mainnet.
In which way POAP NFTs are Being Used
These NFTs could be effectively used for proving attendance at some particular event, crypto or non-crypto, virtual or real-world events. Following are the ways in which people could use POAP NFTs:
- Crypto Events: A POAP NFT could be received at the front door, in case you are attending a global crypto conference as Binance Blockchain Week or Paris Blockchain Week. You could anyway take easy badges which could be taken back to your wallet as souvenir from event.
- Blockchain Games: The players get rewarded with cosmetic items or even badges in traditional gaming after defeating a boss, participating in big event or even striking few hours. Various blockchain games tend to use POAP NFTs with similar requirement to achieve a particular event.
- Communities Of Crypto: The POAP NFTs are being famous for communities for incentivising and rewarding the members who are active as for instance, holders with added POAPs in few communities have different privileges as high voting power on polls.
- Crypto Outside: The POAP NFTs aren’t exclusive to crypto as they could be eventually issued as mementos holding sentimental value for the wedding guests or for the attendees of concert. The POAP NFTs could also work as blockchain-powered resume, which is ahead of souvenirs. As data is permanent and is easily verifiable on the blockchain, employers could prefer a POAP resume so as to authenticate the applicant’s work experience.
Can POAP NFTs be sold?
A POAP NFT can be sold, but yes it’s not their primary function, these NFTs also hold sentimental value more off. The collectors personal experiences are signified as per their role. In case you are interested in buying or selling a POAP NFT, you could visit an NFT marketplace instead. Where in case, you are selling a POAP NFT, then there is no assurance of making a profit. Maximum of POAP NFTs are basically distributed for free, therefore these don’t provide huge amount of financial value.
Why Owning a POAP?
Owning a POAP NFT is different and individual for all, for most of the public, POAP tends to save their life experiences on a safe network. Generally public tend to make use of them for reflecting on main events for which they were a part or things which they had achieved. No doubt in near future you might see valuable POAP NFTs cause of the event they are coming from. For instance, a POAP NFT from major crypto conference could be value of some money in coming 10 years.
Way of Having a POAP
In case you are attending an event, you are going to receive a POAP NFT. The event organiser is going to give you a QR code or a URL with claim code. You could effectively scan the QR code or could enter the URL in a web browser for claiming your POAP. In case for Binance, you can easily scan the POAP QR Code by using the camera on the Binance App.
Such a POAP NFT is designed in such a manner so that they could be stored in an Ethereum wallet thereby. In case, you aren’t having a compatible blockchain wallet, then you could reserve the POAP NFT with your mailing address for reserving the same.
Very next step would be to link the Ethereum wallet to your email address, so as to mint your POAP NFTs.
Be up-to-date with the crypto communities and events, in case you are wanting to find the events which give POAP NFTs. In case, you want to know the information regarding events where we are giving the POAP NFTs then follow the Binance NFT on Twitter or Instagram.
How to claim a POAP NFT on Binance NFT
Following steps contribute to claim a POAP NFT:
- At first download the Binance app, if you are not having it till now.
- Use your Binance app camera for scanning the POAP QR code at event.
- Open the Mystery Box for revealing the POAP NFT.
As per the event, you would be required to consider add on steps before clicking for claiming a POAP NFT, as entering a promotional code or for completion of KYC verification.
There are few self owned POAP NFTs at Binance NFT, including “Binance in Paris 2022” POAP NFT, which allow the holders for claiming the rewards while performing any physical event.
In near future, Binance NFT is going to announce for exclusive perks, in specific for those users who at present own the POAP NFTs, as Binance Blockchain week and Paris Blockchain Week.
Crux
For majority of the public, POAP NFTs are yet at an early stage as most of the event organisers experiment with POAP NFTs, the use cases would yet continue to expand ahead of verifying attendance or saving lived experiences.
Currently, POAPs are easy to own NFTs and don’t carry the similar monetary value as the traditional NFTs being bought and sold on marketplaces. Also for the event organisers, the POAP NFTs tend to give an easy manner of distributing the digital collectibles at precious events.
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