First portable electronic device for facilitating a proximity based interaction with a second portable electronic device

A first portable electronic device facilitating a proximity based interaction with at least one second portable electronic device, wherein the first portable electronic device comprises:

• at least one first sensor device configured to generate at least one of a first sensor data, at least one second sensor data, and a third sensor data;
• a first transceiver configured for communicating with at least one second transceiver associated with the at least one second portable electronic device;
• a first processor communicatively coupled with each of the first transceiver and the at least one first sensor device, wherein the first processor is configured for:
• detecting a pre-tap gesture based on the first sensor data;
• entering the first portable electronic device in an interaction mode based on the detecting of the pre-tap gesture;
• detecting at least one proximity based event using the at least one second sensor data based on the interaction mode;
• generating a combined digital asset using a first digital asset and at least one second digital asset based on the detecting of the at least one proximity based event, wherein the first digital asset is obtained from a memory device associated with the first portable electronic device, wherein the at least one second digital asset is obtained from the at least one second portable electronic device;
• detecting a post-tap gesture based on the third sensor data;
• performing one of an acceptance and a rejection of the combined digital asset based on the post-tap gesture;
• a presentation device configured to present the combined digital asset, wherein the presentation device comprises at least one of a display device, an audio device, and a haptic feedback device;
• and
• the memory device configured for storing the combined digital asset based on the post-tap gesture.