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What is a POAP?

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Eric Huffman

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Eric Huffman

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Eric Huffman's background includes a decade plus in business management as well as personal finance industry experience in insurance and lending. A strong understanding of consumer finance combined...

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Last updated:

October 14, 2024

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POAP is an acronym for Proof of Attendance Protocol, but what is a POAP in a crypto context, and how are POAPs used? Proof of Attendance Protocol tokens are a type of NFT, a non-fungible token, meaning each is unique, typically differentiated by a serial number. These unique NFTs commemorate special events, such as seminars, conferences, or even concerts.

If you have a memory box with old movie stubs or concert tickets, you already understand one use of POAP tokens. They can act as digital keepsakes. However, POAP tokens can also be used for additional purposes, like verification for on-chain votes. In this sense, they can also act like VIP passes, granting access to additional features or perks. Let’s learn how POAP tokens work and how they can be used.

How Does a POAP Work?

POAP tokens use the Proof of Attendance Protocol to mint ERC-721 NFTs. Let’s say you want to hold a big X Space event and award attendees with a memento. You could use the POAP app to mint the tokens and then distribute them to your guests.

You can send the tokens via an airdrop limited to attendees or distribute physical POAPs by having attendees scan a QR code. The token ownership is recorded on the blockchain and preserved forever. Holders can view their tokens using an Ethereum-compatible wallet like MetaMask or by downloading the official POAP app.

Although POAPs are NFTs, very few NFT tokens are POAPs. These special tokens can only be minted through the Proof of Attendance Protocol, which is managed by POAP, Inc., and POAP, Inc. must approve submissions before they can be minted. Once approved, POAPs are minted through the POAP smart contract.

Digital POAPs: Digital Proof of Attendance Protocol tokens might be airdrops or claims.
Physical POAPs: A physical Proof of Attendance Protocol token comes with a physical item bearing a scannable QR code to claim the NFT. This might be a ticket stub or another item from an event.

Another key distinction between POAPs and many traditional NFTs is that users can’t mint their own POAP NFTs. The event organizers control the distribution of POAP tokens. However, once POAP tokens are received, users can transfer the tokens to another crypto wallet.

While POAPs got their start on the Ethereum blockchain, POAP now mints its NFTs on the Ethereum xDai sidechain, which offers lower costs.

What Can a POAP Be Used For?

POAPs can serve countless purposes, ranging from events to completed courses or just about anything you want to commemorate the crypto way and reward community members. POAP offers dozens of case studies on ways businesses and organizations have used Proof of Attendance Protocol tokens.

POAP case studies

POAPs can grant access to additional perks, such as discounts or access to groups.

The ETHDenver Convention in 2019 marked the rollout of POAP tokens. Hackathon participants at the event each earned POAP tokens. Let’s look at some other examples of how Proof of Attendance Protocol NFTs can be used.

Crypto conferences: Conference coordinators have awarded Proof of Attendance Protocol NFTs to attendees.
Brand Events: Companies like Adidas, Porsche, Johnnie Walker, and Google have given Proof of Attendance Protocol tokens to event attendees.
Awards: Warpcast web3 social media casters have received “Top Caster” POAP tokens to recognize their posts.
Employee Recognition and Team Building: Bayer, the multinational pharmaceutical company, has given POAPs as gifts numerous times, ranging from meetups to corporate and community events.
Artist Recognition: The SuperRare premium NFT marketplace awards both artists and collectors unique POAP NFTs.
Metaverse Events: Decentraland awarded attendees of the virtual MetaMask party to commemorate 10 million users.

POAPs can celebrate nearly any event, milestone, or special day. For example:

Parties
Weddings
Graduations
Training events
Promotional events

The official POAP platform also allows organizations to create raffles for POAP holders.

Pros and Cons of POAPs

Proof of Attendance Protocol NFTs bring some advantages over traditional NFTs. However, they aren’t perfect for every use case. Some proponents point to the ability to unlock additional features, such as discounts. Some critics point to the centralization of the platform. Let’s review some of the pros and cons.

Pros

Exclusivity and growing ecosystem
POAPs can authorize additional features or perks
Secure verification of attendance
Increased event attendance rates

Cons

Transferable, which may grant access to benefits for non-attendees
Centralized approval of POAPs
Limited use and aftermarket value

The NFT market is estimated to reach nearly $700 million. While in-demand NFTs from popular collections can sell for tens of thousands of dollars, POAP NFTs see a limited aftermarket. Recent POAP sales on OpenSea show a high-water mark of 0.7 ETH (about $1,663 at press time), with most sales well below that figure. Their value is generally in their ability to mark an event and any additional perks or access granted by holding the POAP NFT.

Real-Life Use Cases of POAPs

Proof of Attendance Protocol NFTs have been in the wild since 2019, with more than 7.2 million tokens minted by over 41,000 issuers. These issuers span every niche. For example, Coindesk issued POAPs for its Crypto State virtual event. While you might expect a crypto company to issue NFTs, you might be surprised to learn that Adidas and Estée-Lauder issued POAPs.

The Proof of Attendance Protocol website offers a massive gallery of collections in nearly every category imaginable.

Adidas: Athletic apparel maker Adidas turned a product launch into a game using POAPs. Participants at the ALTS by Adidas Event in NYC scanned their POAP NFTs at stations with those who collected all eight POAPs winning prizes.
Warner Music: Atlantic Records artist Kevin Gates gave POAP NFTs to fans attending the Red Rocks Amphitheatre show during his Khaza Tour.
Estée Lauder: As part of a virtual event in Decentraland’s Metaverse Art Week, Estée Lauder issued exclusive POAP tokens.

While some big names have used Proof of Attendance Protocol tokens to market events, the bulk of POAP issuers are individuals or smaller organizations that use these digital collectibles to memorialize an event or achievement.

How Can You Create Your Own POAP?

The Proof of Attendance Protocol provides an illustrated guide to issue tokens on its help pages. We review the basic steps and requirements below. The process uses a credits-based system, making it inexpensive to get started with a small drop. Currently, 100 credits cost $25.

1) Create an Account and Sign In

Visit the official POAP website to sign in or sign up at this URL:

https://drops.poap.xyz

Then, confirm your account via email.

2) Create a Drop

Sign-in redirects to the dashboard, where you’ll find an account overview and a button to create a new drop.

3) Upload Your Artwork

The Proof of Attendance Protocol supports GIF, PNG, JPEG, and WEBP formats, with a 200k maximum file size. Round images work best and POAP recommends an image size of 500×500 pixels.

Recommendations for optimal performance are a 500x500px image, round in shape. The file must be either a PNG, JPEG, WEBP, or GIF and not exceed 200KB in size. The Proof of Attendance Protocol also offers a helpful article on creating artwork for your tokens.

4) Complete Drop Details

Provide a title and description for your drop, along with the event start and end date.

5) Create Your Proof of Attendance NFT Drop

At this step, you can either request minting or reserve your submission for future editing or review by your team. Mint links provide a unique URL for each NFT in your drop.

Once you submit your drop, the POAP Curation Body reviews each request individually. This process can take up to 24 hours and helps safeguard the integrity of these special tokens.

What’s in the Future for POAPs?

As NFTs, POAPs share a space with traditional NFTs, which can serve a similar purpose. NFTs offer exclusivity through limited supply and can support address whitelisting. So, what is a POAP in relation to NFTs, and what is the future of the Proof of Attendance Protocol?

One way to think of POAP tokens is as NFTs with a quality assurance team and secure verification of event attendance. The POAP Curation Body helps ensure standards and make Proof of Attendance Protocol tokens more than a commodity NFT mint. Features like raffles and an extensive gallery help differentiate these tokens from NFTs and provide ways for issuers to reach a wider audience.

One criticism of POAP tokens could point to where the project may go next. Many in the community have advocated for Soulbound Tokens (SBTs). These tokens, once received, cannot be transferred to another wallet address. Some see SBT POAPs as a more secure way to use these commemorative tokens, particularly in cases where the token may bring additional benefits, such as on-chain voting rights.

In the past several years, we’ve seen Proof of Attendance Protocol tokens move from Ethereum to the xDAI sidechain. Adoption has also increased, adding more collections to an ever-growing gallery of mints.

Conclusion

So, what is a POAP token, and how does it differ from other NFTs? POAPs are designed to commemorate an event, providing a digital keepsake that lasts forever. In many cases, issuers also use these tokens as a type of VIP pass, allowing holders access to discussion groups, special discounts, or voting rights in some cases. Each POAP submission is reviewed by the POAP Curation Body, helping to ensure that these tokens remain safe and meaningful for recipients.

FAQs

What does POAP stand for, and what does it mean?

POAP stands for Proof of Attendance Protocol. Using the Proof of Attendance Protocol smart contract, issuers can distribute one-of-a-kind NFTs to commemorate special events. These tokens are generally distributed at the event itself, serving as prood of attendance.

What can you do with a POAP?

In most cases, POAP tokens serve as memorabilia, marking a special occasion and attendance at an event. However, some tokens also grant access to prizes, discounts, voting rights, or other perks.