Why should I need to constantly do my KYC when I can just permanently link it in my wallet? This is what an SBT can do. Do you know what it is?
Vitalik recently talked about Soulbound Tokens (SBT), and I was very fascinated by the concept. Popularized in online gaming, the idea is to bind certain items to a player for life instead of giving them the freedom to hand it to a less-experienced player as an undeserved “hand-me-down.”
What if NFTs used the same concept? What if we remove the transferability function of these tokens? What if we soulbond NFTs to wallets?
If we do that, we can unlock a host of use cases:
- DAO Voting
- Web3 Credit History
Find out how SBTs can help in each of the cases mentioned above (plus a bonus one on online social capital transfer) in my latest blog: