The POAP NFT was initially introduced during ETHDenver, the largest Web3 #BUIDLathon in the world.
POAP NFTs were originally created during ETHDenver. ETHDenver is the largest Web3 #BUIDlathon (aka Hackathon) in the world.
POAP NFT facilitates various digital collectible collection and distribution activities.
To participate in Binance events, attendees scan the QR code to receive POAP NFTs and open them in the Binance NFT market.
POAP NFTs are gradually being widely used in cryptocurrency activities. Here’s a roundup of the highlights from the past week.
Everyone once brought home a souvenir. Souvenirs may be exotic trinkets, concert tickets for your favorite band, badges for important meetings, all of which carry our memories and record life experiences.
The Proof of Attendance Protocol NFT (POAP) is a digital memento of the blockchain space. Collecting POAP NFT digital collectibles means owning NFT souvenirs. This guide will provide a comprehensive introduction, including how to acquire POAP NFTs through Binance NFTs.
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What is POAP?
Over the past few years, NFTs have exploded in popularity. Currently, most people think that NFTs are expensive and fancy profile photos. Outside the blockchain field, POAP NFTs are little known.
POAP NFTs were originally created during ETHDenver, the world’s largest Web3 #BUIDLathon (aka “hackathon”). POAP is an NFT minted through smart contracts in the Ethereum blockchain and is an ERC -721 token created to record and commemorate event attendance.
POAP NFTs are often referred to as “memory-carrying ecosystems”. In the near future, people will be able to record both real and virtual life experiences in the blockchain by acquiring POAP collectibles.
We can think of POAP as a new generation of life memory storage. These NFTs will not be flashy and the prices will not be shocking. In fact, event organizers generally distribute POAP NFTs for free.
Note that not all active NFTs are POAPs. Eligible POAP NFTs must originate from POAP’s official smart contract and must contain images, as well as specific date and time metadata.
How does POAP work?
The first step in creating a POAP NFT is the Proof of Presence protocol. The protocol consists of a series of smart contracts.
In addition, each POAP NFT must meet three requirements:
- Minted through the official POAP smart contract.
- Contains metadata related to a specific date or time period (up to one year).
- With pictures related to the event.
After the event organizer completes the creation of the POAP NFT, it will enter the distribution phase. A common method is to provide a QR code that attendees can quickly scan and download. Event organizers may also email attendees a download link.
To avoid expensive transaction fees on the Ethereum mainnet, POAP NFTs currently run on Gnosis Chain, a sidechain that is extremely cheap and faster.
Still, Gnosis is compatible with Ethereum. Collectors only need to pay gas fees to transfer their POAPs to the Ethereum mainnet.
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How to use POAP NFTs
POAP NFTs can be used as proof of attendance at events, including cryptocurrency or non-cryptocurrency events, online or in-person events, and more.
The following are various use cases for POAP NFTs:
- Cryptocurrency activity
- Attend global cryptocurrency conferences such as Binance Blockchain Week or Paris Blockchain Week Summit for a chance to earn POAP NFTs at the main entrance. These portable event souvenirs can be taken home by simply putting them in a purse.
- Blockchain game
- In traditional games, players are rewarded with skin items or badges after defeating a boss, reaching a certain number of hours, or participating in a major event. Many blockchain games use POAP NFTs for reward purposes to commemorate special milestones or events.
- Cryptocurrency community
- POAP NFTs are gradually becoming a common means for communities to reward active members. For example, community members who hold more POAP can enjoy special rights, that is, to cast a more weighty vote in surveys or DAO project proposals.
- Beyond cryptocurrencies
- The use of POAP NFTs is not limited to the cryptocurrency space. POAP NFTs can be souvenirs that convey emotional value, given to wedding guests or concert audiences, and so on.
In addition to the souvenir function, POAP NFT can also be used as a resume powered by blockchain technology. The data in the blockchain is permanent and easily verifiable, so employers may prefer to browse and verify job candidates’ work history through POAP resumes.
Can POAP NFTs be sold?
Yes, but this is not the main function of POAP NFTs. POAP NFTs usually carry emotional value and represent the collector’s personal experience.
If you are interested in buying or selling POAP NFTs, you may consider visiting the NFT marketplace. Strictly speaking, POAP NFTs can be sold, but there is no guarantee that they will make money. Most POAP NFTs are distributed for free, so they have little economic value.
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Why have POAP
The reasons for wanting to obtain POAP NFTs vary from person to person. For many people, POAP helps them document their life experiences on a secure network. They take POAP as a witness to participate in a major event or to achieve self-achievement.
The growing popularity of POAP NFTs has the potential to become a valuable souvenir for major mainstream events.
Perhaps in the near future, we can see many valuable activities or milestone events POAP NFT. For example, 10 years from now, a POAP NFT at an important cryptocurrency conference will have some value.
It’s like the original concert ticket stubs of classic bands like The Beatles are now coveted collectibles.
How to get POAP
In most cases, POAP NFTs are earned by attending an event.
The event organizer provides a QR code or a website with a pick-up code. Scan the QR code or enter the URL through a web browser to claim POAP. Take Binance as an example, open the camera QR code in the Binance App and scan POAP.
POAP NFTs are designed to be stored in Ethereum wallets. If you don’t have a compatible blockchain wallet, you can save POAP NFTs with your personal email address. After using POAP NFT to get the code, you can save it by providing your personal email address. Next, associate an Ethereum wallet with a personal email address to mint POAP NFTs.
To find events to distribute POAP NFTs, stay tuned to the latest developments in the cryptocurrency community and events. Follow Binance NFT on Twitter or Instagram to get first-hand information on Binance’s POAP NFT distribution.
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How to claim POAP NFT on Binance NFT
Please follow the guided steps below:
- Download the Binance App first.
- Scan the QR code of the active POAP with the camera of the Binance App.
- Click to receive the POAP NFT blind box.
- Open the blind box and get POAP NFT.
A small number of POAP NFTs have been launched in Binance NFT, including the “2022 Paris Binance” POAP NFT. Holders can receive rewards at the event site.
Binance NFT will announce in the future that users who currently hold POAP NFT at Binance Blockchain Week and Paris Blockchain Week Summit will receive exclusive benefits. Benefits include whitelist access to the first game launch event in the future, as well as sales eligibility for the subscription mechanism.
Conclusion
POAP NFTs are still in their infancy. For most people, the use case for POAP NFTs is uncommon. As event organizers experiment with POAP NFTs, use cases continue to expand beyond event attendance verification or life experience storage.
For now, POAPs are an interesting way to acquire NFTs, but their monetary value is not comparable to regular NFTs bought and sold in the marketplace.
From the perspective of event organizers, POAP NFT facilitates the distribution of digital collectibles for major events. Conversely, POAP NFTs help people and communities record important milestones.
If you plan to start experimenting with POAP NFTs, stay tuned to Binance NFTs Twitter or Instagram for the latest news. To claim POAP NFT, please create a Binance account, complete identity verification, and then visit the Binance NFT Marketplace.
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Comment by Hans
April 24, 2024
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