POAP will cease operations after 5 years, having minted millions of digital collectibles

POAP founder Isabel announced that after more than 5 years of operation, the POAP project will gradually come to an end.

Isabel stated that over the past few years, POAP has minted millions of digital collectibles in hundreds of communities and collaborated with global institutions such as Coinbase, Amex, Warner Music Group (WMG), and Bayer. Additionally, POAP completed large-scale applications during the Devcon event, minting over 8,000 collectibles in one week, and launched the Airport Rally event, allowing collectors worldwide to obtain POAP at airports.

Isabel noted that POAP holds special significance for many, but due to the impact of the financing cycles and distribution models in the crypto industry, it has become difficult to establish a sustainable business model without sacrificing the project's core philosophy. At the same time, the rapidly changing technological infrastructure and market cycles have also increased operational challenges.

She summarized POAP's experience by stating that user communities are the most undervalued assets of a business, and truly valuable products can spread the brand through users; connecting with users remains a core value that should not be overshadowed by short-term technological hype and price speculation; in a rapidly changing market environment, long-term accumulation and brand trust will become important moats.

Isabel mentioned that there are currently no decisions made regarding the next steps, but she is contemplating the development direction of the Go-To-Market (GTM) model for businesses in the AI era.