SBT
What is Soul Bound Token (SBT) ?
The 'Soul Bound Token (SBT)' is a type of non-fungible token (NFT) that cannot be transferred or traded and is permanently bound to a specific wallet, making it impossible to transfer or trade to another wallet. The term 'SBT' is used to signify tokens that are tethered to a wallet like a soul, unable to be moved elsewhere.
The main features of SBT are as follows:
Non-transferable: SBT cannot be transferred or traded to another wallet.
Permanent Attribution: SBT is permanently attributed to the issued wallet.
Blockchain Record: Ownership records of SBT are recorded on the blockchain, allowing anyone to verify.
SBT can be utilized in the following domains
Identity Verification: SBT can serve as an unforgeable identity credential. Qualification Verification: Graduation certificates, professional licenses, and other qualifications can be issued as SBTs to prevent forgery.
Asset Management: Assets can be managed as SBTs to prevent forgery and loss.
Gaming Items: Gaming items can be issued as SBTs for management of transactions and distribution.
Soul Bound Token in fanC
fanC is a platform that connects various social platforms. fanC's SBT (Soul-Bound Token) helps creators and users within the ecosystem seamlessly continue their activities as they move across multiple platforms. With fanC's SBT, the history of activities on each platform is digitized. In other words, users can now manage all their digital footprints through fanC.
Key features of fanC SBT
Digitization of assets:
The activity of creators and users on the social platform is digitally assetized through SBT.
As non-tradable NFTs, SBTs are attributed to wallets, reinforcing ownership of the activity.
Authentication and Reward:
By fulfilling specific conditions, holding SBT allows you to receive rewards for activities on the fanC platform.
Platforms can invite desired users and creators to their platform.
Transparency and Trust:
Transparently discloses all activity records based on blockchain technology.
Prevents forgery and tampering through distributed storage and immutability.
Enhances the accuracy of authentication for creators and users' activities and improves platform credibility.
SBT is a core element within the fanC ecosystem, assisting creators in managing their activities across multiple platforms from one place. Additionally, users not only receive rewards for active participation but also seamlessly transfer these activity records to other platforms. Ultimately, fanC aims to create a world where only one wallet, issued with SBT, is needed to store all digital activity records across various platforms.
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