What are Soulbound Tokens? SBTs explained

The year 2021 was all about the NFT or non-fungible token. But what if NFTs had another form…something more enduring and everlasting? Ethereum founder Vitalik Buterin recently put forth the concept of a Soulbound Token or SBT in a blogpost, in which he said: “making more items in the crypto space ‘soulbound’ can be one path toward an alternative, where NFTs can represent much more of who you are and not just what you can afford.”

Intrigued? Watch this video to find out what soulbound tokens are, how a soul bound token works, and whether SBTs are the next big thing after NFTs!

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What are Soulbound Tokens (SBTs)? Next-level NFTs: Soulbound Tokens SBT explained

#soulboundtokens #crypto #exoduscryptowallet

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[jasonhoi]

Thanks, this is by far the most fluent intro to the topic. I am a web3 developer, I try to created a public experiment at my NFT project, Sharkz Soul ID, in my design, I think SBT should be attached to a new kind of NFT which is binding to only one wallet, because idenity in any society should be prove by social friends (other wallet) and be recoverable, which is the current pain of using EOA wallet, where when private key is lost, it can never be recovered, and all NFT / SBT binding to it will be in danger.

[ugwuokeonyebuchi]

Good video. From my view, sinceThe SBT, its issuer, and Soul's address can be publicly verified on the blockchain. Hence, anyone can easily track or prove the trust circles of a particular Soul. now,
Imagine having a blockchain account (Soul) that stores immutable records like educational credentials, employment history, or works detailing a person's experiences

Does it not constitutes a breach of data protection laws when consent has not been obtained,
Remember aslo that Verification via the trust layer proves that any data is tamper-free.It can be verified and traced in detail by independent third parties at any time

[blotto]

Kinda sounds like a social credit system, but ok.