Today, we’re going to talk about a unique type of NFT, the Soulbound token (SBT), which is issued only once and is permanently bound to a single blockchain address.
An SBT token cannot be transferred or sent to another blockchain address, and only the owner of the address has access to it.
The non-transferable token is a prime representative of Web3 technologies. Although there are few real-world examples of SBT use cases, it could theoretically become a popular means for its owner to verify identity and other data.
For now, we can muse about its potential use cases: SBTs can be used as name certificates, passports, diplomas, ownership confirmation, various types of identity verification, and even for credit (for example, your entire credit history can be stored in a single SBT that will never leave your address).