Soulbound Tokens (SBTs) are a new concept in the blockchain world, introduced to represent unique, non-transferable assets tied to a person or entity’s digital identity, or “Soul.” Unlike traditional NFTs, which are freely traded, SBTs are bound to a specific wallet and cannot be transferred or sold. This makes them ideal for representing credentials, achievements, memberships, and other unique identifiers that are not meant to be exchanged.

How do SBTs work? Soulbound Tokens are created and issued on blockchain platforms like Ethereum. They are linked to a user’s “Soul,” which acts as a digital identity hub. Organizations, universities, or even employers can issue SBTs to certify skills, education, or affiliations directly to a person’s Soul. Since SBTs are non-transferable, they maintain authenticity and prevent fraud or misrepresentation.

SBTs aim to build a more trustworthy digital ecosystem by enabling a decentralized society (DeSoc) where people can easily verify their credentials and social capital. They open up new possibilities for creating digital reputations and social networks based on verified, non-fungible data, paving the way for new use cases in governance, education, and more secure online interactions.

More info –https://www.solulab.com/soulbound-tokens-and-working/