The Rise of Status Hunters: The Chase for Soulbound Token Badges in Web3
How Masa Started the Trend, It’s Gone Mainstream and Why you Should Jump on It
Introduction
In the realm of web3, a new fascinating trend has emerged — the rise of the status hunters. These savvy global community members are on a mission to carve their path to opportunities by being early adopters of projects, contributing to projects’ growth, and seizing the opportunity to gain unique badges that grant them exclusive, non-transferrable community status.
These status hunters understand the inherent value of being part of high-potential projects from its inception. As a symbol of their early contribution, they are rewarded with unique Discord roles, membership points — and now non-transferrable soulbound badges. These soulbound badges are powered by Soulbound Tokens (SBTs), non-transferrable NFTs; they are a permanent mark of your status and directly visible in your wallet. Status hunters recognize that by obtaining these soulbound badges, they gain not only a symbol of prestige, but also unlock a world of perks, rewards, and exclusive opportunities within a web3 community.
Now, projects and major brands alike are seeing the value in offering soulbound badges to the community members — to spur viral community growth while creating a lasting connection with their most loyal fans.
In this blog, we’ll discover the history of soulbound badges, the rise of status hunters mainstream traction, and how you can jump on the trend.
The History of Soulbound Token Badges
While we can’t pinpoint the first soulbound badge, we can say that Masa popularized the concept in the world of Web3 throughout 2023. In Q2 alone, Masa partnered with L1s like the Celo blockchain on Prosperity Passport (300k+ mints), DeFi projects like DackieSwap on Quack-Bound Token (16.9k mints), and sports metaverses like TopGoal on TopGoal Token.
Soulbound badges can come in the form of membership passes, community status badges, achievement badges and more. The intrinsic non-transferability of SBTs plays a pivotal role in nurturing a sense of exclusivity and loyalty. As these badges cannot be passed from one individual to another, they become cherished possessions, serving as tangible representations of the relationship between the project or brand and its most dedicated community members.
With each new acquisition, status hunters elevate their standing in the web3 world, cementing their position as pioneers and trendsetters. The status hunters and their pursuit of soulbound badges ensures that they are not only part of the community, but also active contributors to its success. This is essential to community members feeling as though they can have a positive impact in the direction and future of a project. Their dedication also unlocks opportunities for badge hunters, to early access to token rewards.
Major Brands Embrace Soulbound Token Badges
Soulbound Tokens recently made major headlines with the news that global fashion powerhouse Louis Vuitton will be launching a $41,000 SBT, called the VIA Treasure Trunk. The Treasure Trunk will visually mirror the iconic LV luggage, and is its next big foray into web3.
“The Treasure Trunk grants access to VIA, Louis Vuitton’s portal to the world of digital collectibles. The luxury house said its first digital trunk is “designed for those who seek to travel through new dreams and new realities.” VIA, also the name of the community of Treasure Trunk owners, will act as a gateway where enthusiasts can acquire bespoke keys to unlock Louis Vuitton designs that have never been seen before. Marking a new step toward the phygital experience, each collectible from new launches will provide buyers exclusive access to its physical counterparts.” — Coin Telegraph
The Louis Vuitton Treasure Trunk gives the designer brand a way to build a lasting relationship with its most prestigious community members, who get to hold these trunks — making them an ultimate status symbol.
In other web3 news, the impressively innovative NFT project and brand, Pudgy Penguins has released MVP — Most-Valuable Penguin Soulbound Token, highlighting and rewarding outstanding community members who embody leadership true to their brand ethos. Becoming a Most-Valuable Penguin is the ultimate nod to one’s participation in the ecosystem.
Dackies and Quack-Bound Tokens
On May 30th, Masa announced our partnership with DackieSwap, the #1 DEX on the Base Blockchain, introducing the world’s first Quack-Bound Token.
The Quack-Bound Token is a limited-edition SBT for early community members who want to be a top-duck by getting their early-adopter status. Users have to complete a thorough quest in a limited time to mint Quack-Bound Tokens. The Quack-Bound Token holders will receive exclusive perks and benefits, to be rewarded for their loyalty and support.
In less than two weeks, over 16,900 community members minted their Quack-Bound Tokens on Base testnet. We are blown away by the reception of Quack-Bound Token in the community.
In Conclusion
With the rise of status hunters, web3 projects and major brands alike are looking to implement SBT-powered soulbound badges for their customers, fans and community.
This trend has only just started, and we expect a flood of soulbound launches throughout 2023 and beyond. At Masa, we take a unique approach to launching soulbound badges, being able to gate them behind user actions such as joining a community, following on social, and using a product. We are scheduled to launch dozens of soulbound badges with web3 communities in the coming months.
If you’re a web3 project or major brand, Masa would love to support you in your soulbound launch.
Learn more here: https://www.masa.finance/growthpad
For the rest of the community, we invite you to join the ranks of the status hunters and embrace the world of soulbound token badges. Unlock unprecedented opportunities, enjoy exclusive perks, and become a revered figure within the ever-expanding web3 universe.
Let your status reflect your dedication, and let the rewards of your journey propel you to new levels of impact in web3. The hunt awaits, and the possibilities are limitless.
Be a part of the Masa Community 🌽
