Non-fungible tokens (NFTs) are already cheap to produce and transfer on many blockchains. Frankfurt, Germany-based MAKE Europe has specialized in this in recent years, enriching many positive user experiences in both the events and sports markets.
However: cheap NFTs can also be a real nuisance like pop-ups.
The Argentinian-American market leader POAP - The Proof of Attendance Protocol Inc. also knows this and is introducing a tax for heavy users and drops: 100 POAPs will soon cost $25. "Today, POAP is the most popular non-financial application running on a public blockchain. Our long-term goal is to make POAPs available to a broader audience, and to achieve this, long-term sustainability must become a higher priority," a recent letter from POAP Inc. stated.
#POAP does not want to be a pop-up
The new income will also set the Web3 company on a more “sustainable” path, POAP Inc said. POAPs are digital collectibles designed to capture life's most precious moments. Each POAP is a gift from the creator of an NFT to its collectors - typically encounters in the Web3 conference space, but a marathon from China has also been included. The potential is huge, creating a web of identities, relationships and their respective social niches.
High potential in the influencer space
POAPs are digital collectibles designed to capture life's most precious moments. Each POAP is a gift from the creator of an NFT to its collectors - typically encounters in the Web3 conference space, but a mass-marathon from China has also been included in the set of POAP publishers. The potential is huge, creating a web of identities, relationships and their respective social niches.
Inexpensively scalable
The technology is highly scalable. The power of cheap NFTs is often used for so-called "drops" of NFTs to lists of known public addresses via POAP. This may seem attractive in individual cases - but in the end it is just a means of delivering a promotional letter, so to speak, to the respective public address in the digital mailbox without requiring consent or incurring follow-up costs.
Though, not feasible for free in the long run
This is ultimately expensive for POAP Inc, because even low-cost blockchains take a toll in the long run, and heavy users cause load spikes. "When we launched 50 months ago, POAP initially subsidized all issuer and collector costs, so minting a POAP could be free for anyone. The ability to offer hundreds of thousands of people their first Ethereum-native, valuable digital collectible for free has dramatically accelerated the POAP ecosystem," POAP further wrote. But that's now over for heavy users!
Best Practice at MAKE Europe
In the user experiences that MAKE Europe was able to enrich using NFTs, we introduced a limit right from the go live. Because we know: Once a project goes viral, it only takes hours to sell out. We are therefore also increasingly using climate-neutral blockchains, as we do not believe that the full censorship security as with Bitcoin is needed for functional NFTs. It just needs to be ensured that successful projects do not depend on certain validators - i.e. can be migrated to another blockchain in case of need.