'I was there': Special NFTs allow you to celebrate Ethereum's Merge
The Merge is fast approaching — and the switch to a Proof-of-Stake blockchain will be the most significant moment in Ethereum's history.
Now, Proof of Attendance Protocols — unique NFTs known as POAPs for short — are being created for crypto enthusiasts who want a special memento of this historic occasion.
POAPs have been celebrated by none other than Vitalik Buterin himself, as it allows recipients to show they personally participated in an event, such as a conference.
The project spearheading these commemorative NFTs is known as EtherPOAP — and in another distinctive twist, POAP badges are going to be airdropped to the inaugural 8,893 crowdfunding addresses that originally participated in and interacted with Ethereum's genesis block when the blockchain first launched.
A limited drop has also been earmarked for other collectors, giving them a powerful, visual reminder of their involvement in the Ethereum project.
Since launching in 2015, Ethereum has been based on a Proof-of-Work blockchain, just like Bitcoin. But once this upgrade is complete, the network will move to Proof-of-Stake (PoS) — forever changing how transactions are validated and added to the blockchain. According to the Ethereum Foundation, PoS will reduce energy consumption by up to 99.95%, and further enhancements are planned that will lower gas costs and ramp up scalability.
EtherPOAP has been established with the help of HashKey Group, a digital asset company headquartered in Hong Kong that services mainly institutional and professional investors. HashKey is known as one of the early investors in Ethereum — and the company is now serving as the lead sponsor and partner of this POAP campaign.
Reflecting on The Merge's significance, it believes the substantial
Read more on cointelegraph.com
