Proof of Attendance Protocol (POAP), the pioneering project that turned event attendance into blockchain-verified digital badges, has ceased issuing new credentials after more than five years. Co-founder Isabel Gonzalez announced the wind-down on August 3, 2026, revealing that the platform entered maintenance mode in March and that nearly 7.6 million badges had been minted by over 46,000 issuers before closure plans were finalized.
POAP began at ETHDenver in 2019 with just 100 badges. It later secured $10 million in funding led by Archetype and Sapphire Sport in January 2022, and its client list grew to include Coinbase, American Express, Warner Music Group, and Bayer. Despite this traction, the company struggled to build a sustainable business model. Gonzalez stated that “crypto’s funding cycles and distribution dynamics made it hard to build a sustainable company without cannibalizing the ethos that made POAP mean something.” Attempts to charge commercial issuers did not generate sufficient revenue.
The closure leaves the 6.7 million (some reports cite nearly 7.6 million) collectibles permanently on-chain, as they were minted to the ERC-721 standard on Ethereum and later Gnosis Chain. However, access to POAP’s gallery, APIs, and metadata services may depend on how long supporting infrastructure is maintained. The team will now shift resources toward a new open collectibles standard, though no detailed shutdown timetable or migration plan has been published.
The event underscores the business model challenges facing utility NFTs, forcing the Web3 industry to re‑evaluate the economic viability of non‑financial blockchain services just as it did after other closures like Uncharted, Fishing Frenzy, and Nike’s sale of RTFKT.
