Soulbound Tokens or SBTs are NFTs that are non-transferrable.
Here's a thread + video that explains what SBTs are, why they're useful, and various use cases for SBTs.
๐งต + ๐ฌ ๐ฟ ๐
Here's a thread + video that explains what SBTs are, why they're useful, and various use cases for SBTs.
๐งต + ๐ฌ ๐ฟ ๐
SBTs are essentially like regular NFTs, but they cannot be transferred to another wallet once issued.
Here's a clip from a video we made, that explains SBTs in less than 60 seconds.
Here's a clip from a video we made, that explains SBTs in less than 60 seconds.
You can watch the complete video on YouTube ๐
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youtu.be
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youtu.be
Big s/o to @ShivanshuMadan who wrote the script for the video - he makes complex crypto topics simple with his writing.
NFTs have a unique combination of properties that make them very well suited to represent proof-of-ownership of assets.
For investment assets, you typically want them to be transferable or tradeable so that your investment is liquid.
This liquidity is one of the biggest value propositions of real estate NFTs.
This liquidity is one of the biggest value propositions of real estate NFTs.
But if an NFT were to represent your driver's license or your college degree, you probably don't want that to be tradeable ๐
For something like that, you'd want a non-transferrable NFT.
For something like that, you'd want a non-transferrable NFT.
I've written before about the various use cases of NFTs that I predict we'll see down the road.
Many of these call for non-transferable tokens.
For example, Proof of Achievements & Skills
For example, Proof of Achievements & Skills
Digital Identities
Voting Records
Degrees, Diplomas & Certificates
Emails and Messages
Medical Records
Legal Documents
There are many more use cases that will emerge organically as the technology is adopted by more developers and companies to solve problems.
@VitalikButerin wrote about the concept of Soulbound Tokens in January 2022 if you want to learn more.
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