NFTs (Non-Fungible Tokens) are just one of the latest developments Web3 has brought to the tech world. As they steadily integrate and become a mainstay in the digital space, it is time to start thinking about how NFTs can be worked into your business strategy. One such way of doing so is the creation of NFTs that officially mark a person’s attendance at an event or exhibition of some kind.
At present, the most common iteration of this kind of NFT is a POAP (Proof of Attendance Protocol). This is an NFT that proves you have attended an event, which can be in-person or online/virtual. An attendee will receive a digital “badge” as their NFT, sent to their wallet as a reward for attending the event.
A new, alternative development is a Proof of Experience token. This token takes the concept behind the POAP NFT and pushes it further. With POAP, you can only claim the badge, but with Proof of Experience, you can create your own NFT as well. NEXA has created a platform for the handling of this on the Palm blockchain, something that is not offered widely.
Proof of Experience Tokens
Let’s take a look at a Proof of Experience token example. If you attend an event where there is an NFT that you can claim, scanning the available QR code allows you to access it. Additionally, you don’t need to hold a “general” wallet either, meaning you can simply create a custodial wallet purposefully for that event without needing to set up a separate one.
What makes the Proof of Experience NFT attractive is that once you have claimed the event’s NFT, you can then create another of your own simply by taking a picture that you can turn into another NFT. After creating it, you can then share it too, allowing a friend who is attending with you to scan your QR code and claim that NFT for themselves too. What’s more, photographs/images that are minted as NFTs become completely protected as that person’s property, entitling them to full rights over it. As opposed to social media platforms where once posting a photo, it becomes the property of the platform, NFTs are protected via record on whichever blockchain is used to mint the NFT. This means that the security and ownership of your property are far greater than in any other digital environment.
Proof of Experience tokens are a fun and unique way to collect NFTs and will be a new experience for most, potentially being their first opportunity to claim an NFT. This makes it a great way to push your brand when hosting any kind of event, as it positions you as an exciting and on-trend organisation. At NEXA, we provide NFT services and strategy that gets businesses the most out of this new technology, as well as our own platform for Proof of Experience tokens. Get in touch with us to learn how you can grow your business using NFTs or visit this page to learn more.