This week, we want to highlight one way to solve this issue by exploring how authors can use Proof-of-Attendance-Protocol (POAP) NFTs.
(…and how this could be the precursor to a read-to-earn app.)
What are POAP NFTs?
The creators of POAPs describe them as “digital memories minted in celebration of life’s remarkable moments. A gift from an issuer to a collector in celebration of a special shared memory.”
They have become increasingly common “gifts” in both in-real-life and online events, with some Dune Analytics dashboards from @greywizard showing sharp increases in usage. (IMAGE)
So, let’s say someone attends your panel discussion at a conference. You can display a QR code on your last slide, and everyone attending can scan it and get a limited edition NFT showing they were at the session.
The digital equivalent would be if someone listens to a Twitter Spaces (or even a TikTok) and gets a secret code word at the end that allows them to download a POAP.
The basic idea is that these are low-stakes rewards for being an active and engaged community member.
Other “real world” examples of low-value participation rewards include the “I Voted” stickers given to voters during elections, stamps or badges given for hiking the 46 mountains in the Adirondacks, or balloons handed out to children by McDonald’s staff.
3 ways authors can use POAPs to engage with their readers
So now that we have a basic idea of what POAPs are, what can authors do with them?
We looked through several use cases and examples and found three use cases that were really interesting for authors specifically.
1) Provide POAPs for IRL or Digital Speaking Engagements.
Whenever an author is giving a reading or a talk, offer readers the ability to download a POAP afterward. It wouldn’t be required of them but would allow you to better understand how many of your fans are crypto-enthusiastic.
2) POAPs as Lead Magnets.
While seeing who has bought your NFTs using blockchain data is great, like we talked about last week, connecting with them off-chain is not accessible if you don’t have their email addresses. By providing a sign-up form that offers a POAP in exchange for their email address, you can reach out to your on-chain readers.
3) Proto-version of “Read to Earn.”
Not going to lie; this is why we did this write-up. We’ve been talking about Read-to-Earn since our very first article. Full Read-to-Earn could be the key to unlocking DEMAND for on-chain books by readers. However, many obstacles still remain.
POAPs could be the first step in the direction of read-to-earn or rewarding your readers for doing what they love — reading!
How to do it?
Place a QR code or secret password at the end of your book to download that book’s POAP and see who starts collecting them.
This would reward readers for reading in a potentially fun and new way.
This strategy gamifies reading all of the books in a series or an author’s entire catalog of titles.
Imagine if an author like Stephen King put POAPs at the end of each of his books. Passionate readers would love to read through and show off that they have read the entire collection.
Or if Goodreads worked with authors and instead of just clicking “read” on a new novel, readers actually received an NFT when the book was completed.
This reminded us of passport stamps in a way because each stamp becomes a bit of a memory for the traveler. We always keep our outdated passports to look through them and reminisce about our travels. The same can be done for avid readers.
Potential downside of POAPs
The downside is that authors are already wary of losing reader, and most prefer to place a call to action to leave a review on Amazon/Goodreads.
If authors place a POAP instead of a request to leave a review, readers might have to choose between that and a link to write an Amazon Review.
Lisa’s advice is for authors to stop caring about reviews on Amazon, but that’s for another day.
Get Your Gutenb3rg POAP for free!
If you are interested in testing POAPs out with your community, https://poap.xyz/ does a great job explaining how it all works.
One important thing is that these are engineered from the start to be low/no cost, so there is no expense to issuers or collectors for the NFTs.
We talk a lot about testing out different technologies as we go, so we wanted to reward our Gutenb3rg readers with a POAP just for you!
To get it, you need to:
1) Download the POAP App and follow the directions
2) Click on the MINT button in the bottom right and Select Secret Code
3) Enter: gutenb3rg_1 (all lowercase)
NOTE! We only have 50 POAPs available, and you need to mint them in the next 12 hours (they disappear at 6 pm EST today)!
Side note: As an update, we are powering down in Sweden so we can recharge in the sun and nature, and we won’t be coming out with in-depth articles until August.
Once we are back, we look forward to digging deeper into a number of exciting projects and technologies to see how web3 can improve how stories are written and how authors are paid!
Thanks again for reading!
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