PoAP NFTs are live on Monad!

Jason Carlton September 9, 2022
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PoAP NFTs are live on Monad!

Monad is launching NFTs as a new way for creators to share their content and receive support from their fans. Starting today, fans of certain creators can collect Proof of Attendance Participation (PoAP) NFTs for attending shows. PoAP NFTs will be displayed on your profile page and will become a great way to show your support for your favorite creator. 

At launch Monad will be the custodian of your NFTs, meaning we hold them in a wallet we maintain on the blockchain and display them for you on your profile page. Soon you will be able to create your own wallet and transfer your PoAP to it. After you take possession of your NFTs they can freely be traded with other users, or listed for sale on secondary markets. It’s up to you.

Disclaimer: If you’re new to crypto and NFTs, getting started can be a little challenging – there is a learning curve. Having your own wallet won’t be necessary at the start to enjoy the benefits on Monad and we will help explain the basics as we release new features.

What’s next for NFTs and Web3 on Monad?

In the near future, fans will be able to purchase creator NFTs in the form of images, playlists, songs, and even video clips from live streams. Some NFTs will even unlock features in the community, such as: new stickers and emojis in chat, customizations for your name and profile, access to view and download special content, and much more.

NFTs are just the start of Monad’s adoption of emerging web3 technologies that, we believe, will revolutionize the social experience of enjoying music and other forms of entertainment online, and strengthen the bond between creators and their fans.

Some key elements of our web3 roadmap (and under consideration):

  • NFT platform that enables creators to distribute and monetize their content.
  • Native digital currency for gamification and fundraising for creators.
  • Augmented Reality enhancements of the existing livestreaming experience.
  • Immersive Metaverse virtual social entertainment experience.
  • Decentralized Autonomous Organizations (DAOs): Community governed organizations designed to distribute funds used to develop and support creators in every part of the world.

If you aren’t familiar with NFTs, web3, or the metaverse keep reading below and spend some time learning about these new emerging technologies.

What is an NFT?

NFT stands for ‘non-fungible token’, which is a digital asset that permanently lives on the blockchain. Some examples of NFTs include: digital art, albums and songs, in-game items for videogames, and other types of collectables.

Why are NFTs important for Creators?

We believe NFTs will revolutionize the ability for fans to support their favorite creators and share in the joy of ownership of creator content. Because NFT ownership is permanently recorded on the blockchain, creators can decide to share royalties generated from their work and collect payments automatically anytime their work is sold from buyer to buyer.

What blockchain is Monad building on?

Monad NFTs live on the NEAR blockchain. NEAR is a creator-centric blockchain and we encourage you to learn more: https://near.org/

If you want to get a head start getting ready to take possession of your NFTs when we enable it, setup a wallet on the NEAR blockchain: https://wallet.near.org/create

Are you involved in web3 or the creator economy? We’d love to hear from you!

Monad’s mission is to make a better economic and creative world for our creators. Web3 is creating a new paradigm where technologies can be used to reimagine the way creators and their projects can be funded, enhance how content can be experienced by fans, and give more flexibility and certainty around content ownership, distribution, and monetization.

If you share our excitement for the future of virtual social entertainment and the web3 creator economy, feel free to reach out at info@monad.social – we would love to hear from you!

Categories: New Feature
Jason Carlton

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