Crypto Terms: Letter P

What is Proof of Attendance Protocol (POAP)?

Proof of Attendance Protocol (POAP) MEANING:
Proof of Attendance Protocol (POAP) - an offering to use the ERC-721 NFT protocol on Ethereum that assigns non-fungible badges to individuals.
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Let's find out Proof of Attendance Protocol (POAP) meaning, definition in crypto, what is Proof of Attendance Protocol (POAP), and all other detailed facts.

Proof of Attendance Protocol (POAP) is an offering to use the ERC-721 NFT protocol on Ethereum. It assigns a non-fungible, unique blockchain-based identifier to individuals that only they have access to. POAP leverages the blockchain, which supports digital assets and non-fungible tokens (NFTs), to handle the problem of identifying individuals rather than transactions or value.

POAP enables event attendees to validate their attendance by collecting digital badges and storing them on-chain. The badges are one-of-a-kind, therefore, the only way to get one is to pick it up at the event. 

Each badge is visually distinct and non-replicable, allowing it to function as an NFT that can be sold on exchanges. One of the key values of such badges is that they are irrefutable proof that an individual went to an event.

POAP users are divided into two groups: event planners and collectors. Event planners can arrange events, as well as produce and distribute POAP badges to participants. While collectors can use personalized, one-of-a-kind NFT badges to commemorate special times in their lives or to indicate their attendance to others.