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What’s new in the NFT space?

andycrestodina

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Vitalek Buterin, the man behind the most prominent Ethereum blockchain recently shared the whitepaper of SBTs along with Glen Weyl and Puja Ohlhaver.

SBTs stands for Soulbound Tokens, they are non-transferable, publicly verifiable digital tokens minted on a blockchain. They are otherwise called non-transferable NFTs. The inspiration for this new digital token comes from the video game World of Warcraft where gamers are offered with in-game items called soulbounds that cannot be transferred contrary to the p2e games of today.

SBTs can be used as certificates, resume, identity cards, etc. As it cannot be transferred and can be verified on the blockchain people can use it as a badge anywhere. An innovation that can change the way identities work!
 

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