EtherPOAP: A Hong Kong-themed NFT with "Ethereum legitimacy" backed by HashKey
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EtherPOAP: A Hong Kong-themed NFT with "Ethereum legitimacy" backed by HashKey
Overseas and domestic crypto KOLs are actively listing various Hong Kong-themed token assets, but which NFT projects fall under the "Hong Kong concept"?
Navigating Web3 tides with focused insights
Written by: 0xlin
Recently, following the Ethereum hype, policy expectations around Hong Kong's anticipated launch of cryptocurrency exchange licenses in June have made "Hong Kong-themed" assets the hottest keyword across the crypto world.
Crypto KOLs worldwide are actively highlighting various Hong Kong-themed tokens—but what NFT projects qualify as “Hong Kong-themed”?
One that comes to mind is EtherPOAP.
A commemorative NFT for Ethereum, backed by HashKey Group—the leading crypto firm in Hong Kong—over 90% of which is held by Ethereum’s earliest OGs. Additionally, HashKey Group is one of only two institutions in Hong Kong to have obtained an exchange license. What potential could such an NFT asset possess, combining both Ethereum legitimacy and Hong Kong exposure?
What Is EtherPOAP?
EtherPOAP is a community formed by some of the most active supporters and contributors within the Ethereum ecosystem. In September 2022, EtherPOAP entered a strategic partnership with HashKey Group to issue a commemorative NFT badge celebrating ETH’s "The Merge" upgrade. The NFT was airdropped to the 8,893 original Ethereum crowdfunding addresses, with HashKey sponsoring 100 ETH in initial funding.
For those familiar with the crypto industry, HashKey Group needs no introduction. In my view, it carries two defining labels:
(1) “Ethereum”: In 2015, Dr. Xiaofeng, founder of HashKey, participated in investing in Ethereum. Vitalik Buterin (V God) also became the chief scientist at Wanxiang Blockchain Laboratory. Since then, HashKey has consistently contributed to Ethereum’s ecosystem development, establishing itself as one of the most legitimate institutions within the Ethereum space.
(2) Hong Kong: Headquartered in Hong Kong, HashKey Group is a market leader in the region’s crypto sector. Hong Kong’s crypto regulatory framework centers on one key license—the “exchange license.” But how many companies will actually obtain it?
To date, only two entities have secured it: OSL and “Hash Blockchain Limited,” a subsidiary of HashKey. This makes HashKey the world’s first digital asset group to hold licenses issued by both the Hong Kong Securities and Futures Commission (SFC) and Japan’s Financial Services Agency (JFSA).
As an Ethereum Merge commemorative NFT project backed by HashKey, EtherPOAP has recently started showing new momentum.
On February 21, EtherPOAP announced via Twitter a major incentive campaign in collaboration with HashKey DID, causing trading volume and floor price on OpenSea to surge sharply.
Where Lies the Potential of EtherPOAP?
The official EtherPOAP Twitter account stated: "We are currently working hard on developing brand-new features focused on empowering NFT holders with comprehensive real-world utility, enabling every holder to autonomously earn benefits through these new functionalities."
Additionally, a former HashKey employee recently tweeted that the HashKey exchange is expected to go live soon, and the asset most closely tied to it right now is the EtherPOAP NFT, suggesting strong potential for exchange-based utility. Moreover, the majority (over 90%) of these NFTs are held by Ethereum’s earliest OGs, resulting in limited actual circulation.
As an NFT asset uniquely positioned at the intersection of Hong Kong exposure and Ethereum heritage, EtherPOAP stands to benefit from dual tailwinds: Ethereum’s ongoing upgrades and favorable Hong Kong regulations. For this reason, we believe it warrants close attention.
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