POAP to Stop Development After More Than Five Years, Co-Founder Says

POAP, a digital collectibles project in the Ethereum ecosystem, will formally stop development after operating for more than five years, according to co-founder Isabel. In her remarks, Isabel said POAP had issued millions of digital items across hundreds of communities over the past several years. She also pointed to collaborations with major organizations including Coinbase, American Express, Warner Music Group, and Bayer. She said the project carries special meaning for many users, but argued that fundraising cycles and distribution models in the crypto industry made it difficult to build a sustainable business without compromising POAP’s original values. Isabel also cited the challenge of building on a fast-changing and relatively fragile technical infrastructure, along with operating through periods of intense market hype, as factors that made long-term development harder.