Soulbound — Web3 Goes Wild and Ties NFTs to Your Soul
The word “soul” doesn’t usually conjure up images of blockchains or cryptocurrencies, but if Vitalik Buterin’s vision of soulbound NFTs eventually materializes, we may one day associate new meaning towards an otherwise very intimate, personal, and divine concept.
During early 2022, Buterin published a post describing the concept of soulbound NFTs. Named after items which are associated in the popular game, World of Warcraft, soulbound objects are not transferrable once they have been conveyed to an individual (or for practical purposes, an account).
Within World of Warcraft, such objects can only be obtained through the passage of difficult obstacles, victories over challenging opponents, and ultimately, dedication to the game itself. In other words, one cannot buy soulbound items (at least, not in the traditional sense — where one might be able to simply collect enough in-game currency or swipe a real-world credit card against the system). No, these assets must be earned with some elbow grease and sweat — and are to be viewed as badges of honor, in many senses.
Building off this concept, Vitalik proposes — what if NFTs could be soulbound? What if there are NFTs that would actually derive more utility (or be viewed more favorably), if they weren’t passed around to the next highest bidder?
