Soul-bound NFTs
NFTs are lauded for their transferability, but there are many use cases for non-transferable tokens: driver’s licenses, diplomas, certifications, proof of attendance, etc.
Soulbound NFTs lock in provenance, and can not be sold.
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Life-long learner. Passionate about leadership, entrepreneurship, philosophy, Buddhism & SF. Founder @deepstash.
Should we do NFTs for Deepstash? Here are some potential use-cases that jumped to mind after a thorough research on Twitter :)
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Similar ideas to Soul-bound NFTs
How NFTs work
Traditional art is valuable because they are unique. But digital files can be duplicated.
With NFTs, artwork can be "tokenised" - a digital certificate of ownership that can be bought and sold. A record of who owns what is stored on a shared ledger known as...
Non-fungible token (NFT)
- In economics, a fungible asset is like money - it is something with units that can be interchanged. With money, a $10 can be exchanged for two $5, and it still has the same value.
- If something is non-fungible, it has unique properties and cannot be i...
The value of NFTs
NFTs have no physical or tangible value. The technology of NFTs codifies and enforces a metric of scarcity on a digital file.
- Functional value (What can I use this for?)**:** Most of the discussion around NFTs is about how you will use the ...
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