Proof of Utility — Adjustable Soulbound NFT Reward Mechanism for On-chain Behaviors

  • NFT owners cannot choose what utilities they want, but passively wait for airdrops.
  • There is no on-chain framework where project founders and users negotiate together to set and maintain a behavior reward under strict supervision.

What if NFT holders’ benefits could be soulbound?

NFT — Holder’s Soul & onchain behavior
- Owner’s behaviors (hodl & flip) decide how many Soulbound Token (SBT) they can get.

What is NFT Soulbound token (SBT) and how does it work?

To better understand SBT, You can understand the soulbound token as the wishes to the dragon in Dragon Ball. But this wish is chosen to pick different utilities that can be delivered by different NFT projects based on their own roadmaps and resources.

  • Total amount limited, but projects can decide when to issue additional tokens
  • Can be used to unlock benefits that projects delivered
  • NFT owner’s on-chain behaviors (e.x. holding time…) decide if they can get the Soulbound Token

A fine-grained behavior-based reward mechanism

As the NFT market evolves, the original utilities might not be popular any more. In order to keep growth, the project researcher/founder must search new game principles for NFTs all the time.

  • This design creates an on-chain framework where the project and users negotiate together to set and maintain a behavior reward under strict supervision.

--

--

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
MAO DAO

MAO DAO

NFT & Gaming DAO a.k.a Metaverse ape organization from the East