【Coinlive Original】Saudi Arabia's latest NFT airdrop "soul-bound token". Come and watch this latest black technology!

The highest bid (MAX BIDDING)! The Saudi NFT not only created a topical hashtag on Twitter, but also caused a stir in the NFT community. I don’t know if you have noticed, why so many national flags suddenly popped up in the NFT market, and it feels like members of the United Nations have poured into the Ethereum blockchain at the same time. From the Japanese to the Americans to the Jews, NFT has suddenly become a messenger to maintain world peace. The author is not going to invest in one of the projects, but I want to share with you the latest innovative technology from Saudi Arabia-"SoulBound" (SoulBound) NFT.

Before we talk about SoulBound NFT, first of all, we must know what is SoulBound Token "SoulBound Token", or SBT for short. The concept of soul binding originated from the world's most epic large-scale online game - "World of Warcraft". I believe that players who often play online games are no strangers to the term "soul binding". Soulbound means literally what it means when something is bound to your soul. Assuming we pick up an item, it stays with us forever, and we can never sell or transfer them to others. Now that you understand what is soulbinding, it's time to explain what soulbound tokens (SBT) are. SBT is a publicly visible, but non-transferable NFT (can be revoked by the issuer). SBT was created primarily about commitment, proof and belonging. Vitalik Buterin, the co-founder of Ethereum, nicknamed "V God", proposed the concept of soul binding on his personal webpage in January this year. This was followed by a 37-page white paper with other co-authors in May.

The Twin Blades of Azzinoth are one of the most iconic weapons in video game history

Generally speaking, powerful artifacts in online games are all soul-bound, and the way to obtain them is easy but not so easy. To quote the words of V God, players can complete a series of complex tasks to obtain artifacts by coordinating and cooperating with other players; or directly spend money to hire a professional team to lie and win. Although spending money to obtain soul-bound items is actually the same as buying them from a trade, but at least the process is not so direct, and it also indirectly marks the price of all items. So what is the soul binding NFT? Soul-bound NFTs can prove the owner's identity, trustworthiness, achievement, even dedication and more. For example, we participated in an offline web3 event. To prove that we participated in the event, we scanned the QR code on the spot and got an exclusive NFT. Although we can find other people to brush or directly buy a wallet containing the NFT, we can't display several wallets at the same time, right? Imagine that there are ten soul-bound NFTs in one wallet. Compared with ten soul-bound NFTs scattered in ten wallets, the former is obviously more convincing.

There are dozens of exhibition-related NFTs (POAP) in V God’s personal wallet

After the release of the soul binding token white paper, it became a hot topic for a while. If you pay close attention to Coinlive, you may have noticed an NFT casting strategy earlier this month. This guide’s free minted NFT is exactly the soul-bound token on Binance Smart Chain. Be sure to check out this guide after reading this article!

A free NFT issued by Project Twelve (P12), a pioneer of the Web3 game platform. Strategy link: https://www.coinlive.com/news/detail/?id=8222

I believe that readers now have a basic understanding of soul-bound tokens, and then let us further uncover the mystery of SaudiBound Tokens. This Saudi-bound token is actually similar to the soul-bound token, except that the former is not bound to the wallet address, but the original NFT project. Within the first week after the public release of the Saudi NFT, the project team airdropped the Saudi-bound NFT to the holders of the Saudi NFT. This can be said to be the first of all NFT projects, that is, NFTs bound to NFTs. The airdropped Saudi-bound NFT is closely connected with the Saudi NFT, and no one can do without the other. Saudi NFT maintains the characteristics of NFT and can be freely traded and transferred, while Saudi Arabia can only follow it when binding NFT. Let's see it in action!

1. The original face picture (PFP) project of Saudi NFT. Former holder 'adrian48' sold NFT to user 'w000t'.

2. The Saudi-bound NFT is automatically transferred to w000t without the permission of adrian48, because the Saudi-bound NFT has already been soul-bound to the Saudi NFT.

3. The transaction records on the chain look like this.

4. w000t now owns two NFTs, even though he only bought one at the time.

Unlike the airdrops of most blue-chip NFT projects (such as Boring Ape or Moonbird), Saudi-bound NFTs cannot be sold or transferred individually. The Saudi NFT project development team believes that airdropping a brand new NFT collection will dilute the value of the original project, so the Saudi-bound NFT appeared. However, contrary to expectations, the floor price of Saudi NFT has continued to decline since the airdrop. Apparently, most holders are unimpressed with this new technology. As the saying goes, "Everyone has his own favorite turnip and green vegetables", everyone has their own views and preferences. For the author, it is not easy for Saudi Arabian NFT to innovate boldly in the current sluggish market. In addition, the images of PFP and airdrops are constantly changing, which has a strong narrative. At the end of the "Highest Bid" tour, the project team promised to give the "Diamond Hand" holder a very special gift. Even if you don't hold Saudi NFT, the evolution and progress of this project are still very exciting and looking forward to.

The image of the Saudi soul bound NFT changes day and night, and it also comes with background music!

If you are interested, you can read more about soul binding.
V god "Soul Bound" translation: https://mirror.xyz/wplus.eth/6PGl-vBtRFqSLHc8QJWxzSelLCWA6YXyxw2qblAUZFk
White paper translation: https://learnblockchain.cn/article/4175

Author: [Coinlive] Nell