What are SBTs & Soul Names and why do they hold some of the most important utility in web3? ๐Ÿงต
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1/ Have you heard about @getmasafi? Masa Soul Names (#MSNs) and Soulbound Tokens (#SBTs)? These two innovations hold a lot of power, value, and utility in the world of web3.
2/ In 2023, SBTs are set to become the fundamental identity layer of web3. They offer a more interoperable and composable solution compared to other decentralized identity options.
3/ Trust and authenticity are major issues in both web2 and web3. #SBTs offer a way to build and share your authentic identity on the blockchain, using non-transferable NFTs that represent various web3 and real-world attributes.
4/ Masa Soul Names are a type of #NFT that serve as a human-readable domain name for your Soulbound Identity. They are transferable, tradable, and can be assigned to your #SBT.
5/ Your Masa Soul Name will serve as your passport to web3, allowing you to build reputation and track your participation and achievements across various wallets, dapps, games, and communities.
6/ Simple characters, single emojis, or clever soul names will be the most rare and sought-after. They will be easy to remember and use, and may even achieve fame in web3. In the future, you may be able to use your .soul in place of an ETH address.
7/ Your soul name will also unlock perks, utility, and value through its power to build on-chain reputation. This may give you access to soulbound lending, exclusive airdrops, and game badges.
8/ In order to build authenticated identities on the blockchain that align with decentralization and regulatory requirements, soul names can be authenticated through Masa SBT's privacy-preserving and self-sovereign user authentication system.
9/ To summarize, Masa Soul Names and Soulbound Tokens offer a solution to the problem of trust and authenticity in web3 and will bring real utility and value to the ecosystem. They will be rare based on their names, emojis, and numbers, and will be tradable on
Get early access at masa.finance/allowlist.
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