What is a Soulbound Token (SBT)? Complete Web3 Definition
Learn what Soulbound Tokens (SBTs) are in Web3, how they differ from standard NFTs, and how they provide non-transferable proof of event attendance and reputation on TON.
Definition:
A Soulbound Token (SBT) is a non-transferable digital token anchored permanently to a specific blockchain wallet. First conceptualized by Vitalik Buterin, Glen Weyl, and Puja Ohlhaver in 2022, SBTs represent credentials, reputation, memberships, and verified real-world event attendance without financial speculation.
How SBTs Work in Web3 Events
Unlike traditional Non-Fungible Tokens (NFTs) which can be listed and sold on marketplaces like OpenSea or Getgems, Soulbound Tokens cannot be transferred, sold, or lent once minted to an attendee's wallet.
In the ONTON ecosystem, SBTs serve as cryptographic proof of participation:
- Attendance Verification: When an attendee checks into a conference using their ONTON QR code, a Soulbound badge is issued directly to their TON wallet.
- Sybil Resistance: Proof that a real human physically attended the event, making them eligible for governance voting, retroactive airdrops, and exclusive community perks.
- Token-Gated Community: Unlocks automated access to alumni Telegram groups and VIP speaker channels.