Soulbound Tokens (SBTs)
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Basics
- SBT — Soulbound token, an NFT that can never be transferred because it contains information about its owner and their accomplishments.
- From Decrypt (9-6-2022):
"Soulbound Tokens (SBTs) were proposed in May 2022 by economist & social technologist E. Glen Weyl, lawyer Puja Ohlhaver, and Ethereum creator Vitalik Buterin. SBTs are a primitive, or foundational building block, in an emerging Web3 trend known as the Decentralized Society.
Similar to a resume or medical records in the non-Web3 world, SBTs are non-transferable tokens that represent “commitments, credentials, and affiliations” that make up the social relations on Web3 networks. Crucially, Souls can issue and attest SBTs to other Souls; so for example a college (represented by one Soul) could issue a SBT certifying that a course has been completed to a student’s Soul.
At time of publication, no formal Soulbound Token specification exists at the time of writing; they’re still just an idea. That said, some mechanics have already been outlined."
