BOSTON, 18 August 2022 – The USD 4.28 million seed investment round for GitPOAP, a platform for contributor acknowledgment that gives software projects a creative method to acknowledge and support their communities through POAP issuing on Github, came to a successful conclusion.
The round was co-led by Inflection.xyz and Libertus Capital. It included participation from major players like Avalanche VC, Protocol Labs, and POAP, as well as well-known angel investors like former CTO of Coinbase and General Partner at a16z Balaji Srinivasan, POAP Founder Patricio Worthalter, and industry names Anthony Sassano, Superphiz, and Mariano Conti, among others. It also demonstrated significant interest in the project.
GitPOAP’s co-founder and CEO, Colfax Selby, said:
“People’s POAP collections reveal a lot about them, and we’re extending that by incorporating their professional accomplishments and contributions. POAPs are a gateway to a thriving ecosystem of social and professional apps that you may engage in with an on-chain reputation. They also act as a record of your past deeds. People’s existing online representations are extremely restricted, but the future of Web3 calls for a more detailed, nuanced online reputation, which is what we’re trying to provide by expanding POAP’s capabilities.”
More about GitPOAP:
GitPOAP is a mechanism for contributor acknowledgment that incorporates the issue of POAPs into GitHub. By representing significant contributions as POAPs, it spans the gap between already-existing off-chain contribution platforms like GitHub and the on-chain world of DAOs and decentral.
This offers software projects with a cutting-edge method of appreciating and supporting their communities—and eventually, many more types of organizations. Contributors can simultaneously network, promote this socially-sourced, unchangeable labor record, and create a web-3 depiction of their identity. GitPOAP will use this foundation to provide an ecosystem of applications that rely on reputation.
By bridging the gap between the on-chain world of DAOs and decentralized identification and the existing off-chain contribution platforms like GitHub, GitPOAP is committed to bringing people’s professional reputations on chain. This is accomplished by representing significant contributions as POAPs, blockchain-based badges created to honor exceptional events.
Project managers and contributors are the two categories of users using GitPOAP. Contributors can make their work available in unbiased, public records that cannot be changed. Project managers may recognize, develop, and grow their contributor networks in new ways. GitPOAP is set up to recognize meaningful contributions following a defined pattern after making the first contribution. Then, contributors receive a GitPOAP as a reward that may be claimed by logging into GitPOAP through their GitHub account.
We try our best to fact-check and bring the best, well-researched, and non-plagiarized content to you. Please let us know
-if there are any discrepancies in any of our published stories,
-how we can improve,
-what stories you would like us to cover and what information you are looking for, in the comments section below or through our contact form! We look forward to your feedback, and thank you for stopping by!
Next Article
