POAP announces it will cease operations after more than 5 years of activity

Odaily News: Isabel, co-founder of the Ethereum ecosystem digital project POAP, has announced that POAP will officially cease operations after more than 5 years of activity. Isabel noted that over the past few years, POAP has issued millions of digital collectibles across hundreds of communities and collaborated with global institutions such as Coinbase, American Express, Warner Music Group, and Bayer. She stated that POAP holds special significance for many people, but the crypto industry's fundraising cycles and distribution models have made it difficult for the project to build a sustainable business model without compromising its original values. Meanwhile, building on rapidly changing and relatively fragile technical infrastructure, coupled with highly speculative market cycles, has further increased the difficulty of long-term development.