What is a SoulBound Tokens?

What is a SoulBound Token?

In a recent white paper by Vitelik Buterin, Glen Weyl, and Puja Ohlhaver, they discussed the possibilities of the creation of a decentralized society (DeSoc) and Soulbound tokens (SBTs). The name was coined from the World of Warcraft game. SBTs are non-transferable NFTs held by a private crypto wallet known as Souls.

Soulbound tokens are non-transferable; once you acquire one, it will always be tied to your personal wallet and identity, and cannot be sold or given to another person. This makes them ideal to digitally represent assets that cannot be acquired by purchasing, such as certificates of competence, reputation, medical records, etc.

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