Poap

About Poap

POAP (Proof of Attendance Protocol) offers a system for creating digital collectibles that serve as verifiable records of life experiences. The company was founded by Patricio Worthalter, a native of Buenos Aires born in 1987, who has been dedicated to the blockchain space full-time since 2015. His personal passion for collecting and a desire to use blockchain for something beyond finance led to the idea for POAP in 2018. The protocol officially launched at the ETHDenver convention in 2019, initially as a way to reward and track participants in a hackathon. POAP Inc., a Delaware Corporation, was later established on September 9th, 2021. In January 2022, the company announced it had raised $10 million in a seed funding round led by Archetype and Sapphire Sport.

The core of the business is providing a protocol and platform for minting unique digital badges as NFTs (Non-Fungible Tokens). These collectibles, known as POAPs, function as digital mementos, proving an individual's attendance at a specific event, whether physical or virtual. Event organizers are the primary clients, using the platform to engage their communities and distribute these digital souvenirs, often for free, via QR codes or URLs. The platform has been utilized by a wide range of clients, from Web3 communities like SushiSwap and Decentraland to major brands such as Adidas, TIME Magazine, the U.S. Open, Porsche, and even financial institutions like Goldman Sachs. While initially minted on the Ethereum mainnet, POAPs migrated to the Gnosis Chain (formerly xDai) in 2020 to reduce transaction costs and increase speed, making the creation of these badges more accessible.

Each POAP is a unique ERC-721 token that includes a custom image and metadata related to a specific event and date. This creates a tamper-proof and lasting record on the blockchain. Beyond simple memorabilia, these digital badges unlock further utility. Holders can gain access to exclusive chat rooms, community polls, raffles, and future events. For collectors, their POAP collection serves as a digital scrapbook or an on-chain résumé, showcasing their experiences and participation within various communities. This system provides a novel way for brands and creators to reward loyalty, build community, and gate access to future perks or content.