NFT

Japan Uses POAP NFTs To Award Its Mayors

Utilizing the Ethereum-based tokens to acknowledge successful initiatives by the local authorities.

NFT

Japan Uses POAP NFTs To Award Its Mayors

Utilizing the Ethereum-based tokens to acknowledge successful initiatives by the local authorities.

Japan has become one of the first countries to utilize POAP NFTs to award various government representatives for successful initiatives. The tokens were presented to seven Mayors at the Digi Takoshien Summer 2022 award ceremony, with the Prime Minister of Japan, Fumio Kishida in attendance, as first reported by Coinpost.

The Digi Takoshien is a nationwide competition in which local governments compete to revitalize communities through various digital technology advancements and efforts.

But what is a POAP?

Trail-blazed and made popular by POAP.xyz, the acronym stands for Proof of Attendance Protocol — which by its simplest explanation acts as a “bookmark for your life.”

More technically, POAPs provide a record-keeping method that utilizes blockchain technology to bookmark an event or experience using NFTs. For example, if there were a virtual event, the hosts could create a POAP using the POAP.xyz site or app and share a secret code that members in attendance could then use to claim their NFTs during a limited pre-determined time frame. These tokens can then be held as collectibles or even have further utility applied to them at the discretion of the issuer.

One of the most popular use cases of POAPs to date has been Twitter Spaces — various NFT projects have utilized the technology to provide tokens to those who attend their spaces live, which strengthens community value, and also provides a more interactive experience for the listener.

In the case of Japan, the Ethereum-based tokens were issued to Mayors for various technological initiatives from electric vehicles for food delivery to the idea of a platform which would use cameras on mobile devices to track real-time traffic conditions. The POAPs were issued by IndieSquare’s HAZAMA BASE, which has introduced the ability to issue and distribute NFTs with no code.

A major benefit of issuing the awards as POAPs is that they will forever live on the blockchain, are immutable, and in this case non-transferable — meaning they won’t be sold on the secondary market.

One of the best parts about POAPs is that they are free to make and anyone can access them through the platforms website or app. Whether it’s to commemorate the attendance of a birthday celebration, a company conference, or a Twitter Space POAPs unlock a variety of interactive and immersive opportunities for communities and individuals alike.

In other news, Gamestop has partnered with FTX to push digital asset adoption.

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