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POAP: Web3 social high-frequency application and traffic entrance

In the anonymous and decentralized world of Web3, how to evaluate the identity of the participants and judge the value of the participants is an important topic in the Web3 social scene.

In the Web3 identity system system, concepts such as ENS (Ethereum Name Service), SIWE (Sign-In with Ethereum), PoH (Proof of History), POAP (Proof of Attendance), and SBT (Soulbound Tokens) are all components.

In the subdivision direction of the Web3 identity system, the POAP protocol/application is showing its wide application scenarios on the data. In Web3 marketing, POAP has contributed a lot. According to incomplete statistics, the number of POAP distributions per week has reached 1.7 w, 2.6 w, and 2.0 w times in recent weeks:

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(Data source: https://dune.com/whiskey/dd-leaderbaord-v 0? s= 09)

The data statistics come from Ryan Carson, the founder of 121 G Fund. The above data is compiled under the conditions of "POAP purchased on the secondary market is not counted", "POAP transmitted from an unknown address is not counted", and the data can be used for reference . Although it is impossible to include all the POAP volumes that are taking place, the increasing trend of POAP can still be clearly seen.

At the same time, the total number of POAP participations that have been counted exceeds 8.5w times, and the application scenarios are mainly real-life scenarios (on-site participation), community contributions, and attendance participation:https://dune.com/whiskey/dd-leaderbaord-v 0? s= 09)

(Data Sources:

POAP is essentially an NFT-like application based on the "attendance" proof protocol. It is widely used in participating in project activities to check in and obtain commemorative badges. It is also known as a credential issuance tool/protocol/application.

By issuing POAP, the issuer can directly link the "attendance" or "check-in" behavior of community participants with the address (behavior data) on the chain. These POAPs also endow participants with multi-dimensional user attributes. With the precipitation of POAP data, a unique credit system and derived data service system can be built.

• What deserves more attention is the application scenario of POAP:

• For B-end users, POAP can be used to measure user contribution, loyalty, and user positioning. Events of all sizes initiated by the project party can be used as proof of participation through POAP;"For C-end users, it will "personal qualifications

Multi-dimensional statistics and visualization, the more POAP, the higher its value, the greater the personal credit. This is an ideal concept of community that "participation is contribution, and participation is value".

In the subdivision of POAP, there are already many general-purpose certificate issuance platforms, such as Galxe, POAP, etc. These projects mainly help project parties issue chain certificates more quickly and simply by providing a unified API.

In the field of credential issuance tools/protocols/applications, it is expected that there will be 1-2 leading general projects, and a few credential tools for subdivided application scenarios (if they can provide higher value credential, they may be more popular in the market); At the same time, each public chain ecology may also have an officially supported top POAP platform within the ecology (for example, the POAP attendance verification application Suia is said to fill the gap in the SUI ecology in the POAP track).

Of course, POAP alone is not enough to cover the entire identity ecology, but it brings better data and more enlightenment to the import of Web2 traffic and Web3 marketing. For example, some NFT launches based on mobile phone LBS (Base Station Location Service) are on the rise. This kind of simple App greatly reduces the barriers to entering NFT, facilitates the intercommunication between Web2 and Web3, and reduces the cost of mutual conversion.

(At the Devcon 6 meeting, the physical card of ENS and POAP cooperation became an "ice-breaking artifact for strangers". After registering with ENS, participants can receive a physical POAP tag, and by touching the tag through the mobile phone NFT, they can get "with xxx in Devcon 6 meets" proof.)

This type of activity method is also adopted by large Web2 brands in NFT marketing. For the brand side, POAP applications include but are not limited to: setting NFT purchase conditions; setting event participation conditions; motivating brand consumers to check-in times; setting consumer rights based on POAP, etc.

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Primary market investment dynamics

Primary market investment dynamics

A total of 20 blockchain financing incidents at home and abroad were announced last week, and the total disclosed financing exceeded US$500 million, a substantial increase from last week. The popularity of DeFi, NFT and metaverse tracks continues.