Bringing Web3 Gaming Into the Future With Soulbound Token
Soulbound tokens offer a way to revolutionize the gaming industry, and they may hold the key to ridding the world of the pesky pay-to-win scheme for good.
Soulbound tokens are NFTs, but not just any NFTs. Soulbound tokens are bound to the wallet that first receives or mints them.
They are both non-fungible, meaning they are unique, and are non-transferable.
And they cannot be transferred to or from the wallet that they are initially bound to.
Soulbound tokens got their name from a video game called World of Warcraft (WoW).
In the game, players complete quests, raids, or various tasks and are sometimes rewarded with items, commonly weapons or armor.
On occasion, various items would be labeled as “soulbound.”
This meant the item was permanently bound to that player and could not be traded, sold, or gifted to others.