Could Soul-Bound NFTs be the future of identity and status?
For users across the Polkadot & Moonbeam blockchain ecosystem, Soul-Bound NFTs are a special kind of digital item that cannot be transferred to other players, making them exclusive to the player who owns them. These NFTs are uniquely tied to a specific player or character in a game, creating an integral part of a player’s gaming experience. We’re confident that in the near future, Soul-Bound NFTs (SBTs) will become so common, they will just be crypto native Web3 vernacular.
First introduced as a concept in 2022 as reported by Cointelegraph, Soul-Bound NFTs are being used to create personalized experiences for players. A player can earn an SBT that unlocks a unique character skin or outfit that is only available to them, making them recognizable as a first class citizen within that game. This would make their character stand out from other players and give them a sense of elite ownership over their in-game avatar.
Another use case for SBTs is to create unique in-game events and secondary markets where players can buy and sell exclusive in-game assets. This could look like a token gated room or showcase. The SBT is that backstage pass we see in the real-world that identifies the wallet owner in the Web3 world.
Soon to launch Moonbeam P2E game Zoombies has incorporated SBTs into their gaming experience, offering a VIP program to their most engaged supporters where they can enjoy exclusive perks relative to their VIP status.
“We created the Soul-Bound VIP NFT program to recognize player support. We wanted to provide a premium experience to these players, where they feel like first class citizens of our Miniverse.” says Ryan Price, CEO of Zoombies.
Zoombies has taken an early approach by aligning with the ERC-5192 token standard for Minimal Soulbound NFTs which provides a minimal interface for soulbinding EIP-721 NFTs. This standard will ensure compatibility with future platforms as we see the increase in SBT adoption.
One of the potential use cases for SBTs is to recognize loyal players with a status reward. A game that awards an SBT to players who have reached a certain level, completed a difficult quest, or participated in a special event would incentivize players to continue playing the game.
Zoombies Utility Token ($ZOOM) is an economic currency within their P2E Game. Players that participate in the Moonbeam launch Token Generation Event ( March 2023 ) will receive a Zoombies Soul-Bound VIP NFT as a reward for their support.
SBTs have the potential to change the way we think about virtual assets in Web3 gaming. By creating exclusive and personalized experiences for players, game developers can incentivize loyal players to continue playing while introducing new revenue streams for their projects. There are may real- world SBT applications as described in the NFT NOW article:
“Through SBTs, medical records, academic achievements, alumni status, employment histories, criminal records, and everything in between can be minted as an NFT with immutable and non-transferable ownership.”
The gaming industry is poised to really benefit from this exciting new identity token. As the Web3 gaming industry continues to grow, Zoombies expect SBTs to become an integral part of the gaming experience for players and game developers across the Polkadot & Moonbeam blockchain ecosystem.
Check out the first ever Soul-Bound NFT VIP program on Moonbeam.
Join the conversation and share your thoughts in the Zoombies NFT World Discord group