Soulbound tokens or simply SBT cannot be transferable and sellable?? then how?

ryzaadit

legendary

Activity: 2660

Merit: 1261

Quote from: Ivartheragnarson on March 07, 2023, 08:09:31 AM

-snip-

Did you can really simple ask this things in 'SBT' community?

You should ask the topic you're asking with their community, so you will get some valuable answer from their team and not a speculation answer from forum member who are no idea what is going on.

So, try to ask first on SBT Community.

Ivartheragnarson

jr. member

Activity: 58

Merit: 4

Quote from: o48o on January 15, 2023, 01:54:19 PM

Quote from: geeyow on January 15, 2023, 01:25:14 PM

Could be a fake "soul-bound" NFT, the creator/owner of that NFT must have been just riding the hype about this new concept of token Vitalik was talking about on his blog.

Binance has its own soul-bound token, Account Bound (BAB) Token and in order to get it, you will need to pass their KYC Verification. So, in theory, you can't transfer it, only you own it. Bound to your "soul".

Souce: https://www.binance.com/en/support/announcement/binance-to-launch-binance-account-bound-bab-token-the-first-ever-soulbound-token-on-bnb-chain-0fe1e7c8781844e29f56cb674231dfd7

"Could" is a wrong word when they are absolutely fake. Soul bound tokens by definition can't be traded in markets. And it's not only in theory that you can't transfer it. it's by design trading it would go against the whole concept. This is equivalent of someone selling tokens called house, and people would be asking that surely those are not real houses you can walk in.

yes, i also ask the same thing. if they are actually soulbound tokens as they promise, why they are transferable and sellable??

o48o

legendary

Activity: 3038

Merit: 1166

Leading Crypto Sports Betting & Casino Platform

Quote from: geeyow on January 15, 2023, 01:25:14 PM

Could be a fake "soul-bound" NFT, the creator/owner of that NFT must have been just riding the hype about this new concept of token Vitalik was talking about on his blog.

Binance has its own soul-bound token, Account Bound (BAB) Token and in order to get it, you will need to pass their KYC Verification. So, in theory, you can't transfer it, only you own it. Bound to your "soul".

Souce: https://www.binance.com/en/support/announcement/binance-to-launch-binance-account-bound-bab-token-the-first-ever-soulbound-token-on-bnb-chain-0fe1e7c8781844e29f56cb674231dfd7

"Could" is a wrong word when they are absolutely fake. Soul bound tokens by definition can't be traded in markets. And it's not only in theory that you can't transfer it. it's by design trading it would go against the whole concept. This is equivalent of someone selling tokens called house, and people would be asking that surely those are not real houses you can walk in.

geeyow

newbie

Activity: 12

Merit: 6

Could be a fake "soul-bound" NFT, the creator/owner of that NFT must have been just riding the hype about this new concept of token Vitalik was talking about on his blog.

Binance has its own soul-bound token, Account Bound (BAB) Token and in order to get it, you will need to pass their KYC Verification. So, in theory, you can't transfer it, only you own it. Bound to your "soul".

Souce: https://www.binance.com/en/support/announcement/binance-to-launch-binance-account-bound-bab-token-the-first-ever-soulbound-token-on-bnb-chain-0fe1e7c8781844e29f56cb674231dfd7

o48o

legendary

Activity: 3038

Merit: 1166

Leading Crypto Sports Betting & Casino Platform

Quote from: vv181 on January 15, 2023, 07:50:12 AM

What do you mean by not transferable? Does the shown picture has the word "Content not available yet" made you think it's not transferable?

I see that currently all or most of the NFTs collection shows unavailable content images. According to the sources[1][2] that I take a look at, it indicates that the NFT image itself hasn't been updated by the Opensea website itself, so you might want to wait for a little bit. Another possibility the NFT might be delisted due to whatever the OpenSea terms that is breached.

If it is only the matter of the image not yet updated, there is a solution that might be able to fix it. On any NFT URL, click the 3 horizontal dots and then click the Refresh metadata button.

[1] https://tokenizedhq.com/content-not-available-yet-opensea/
[2] https://www.reddit.com/r/NFT/comments/r5b7ue/what_does_content_not_available_yet_mean_on/

OP is referring to new concept of Soul Bound Tokens proposed by Vitalik while ago. https://academy.binance.com/en/articles/what-are-soulbound-tokens-sbt
Op was however linking to normal tradeable NFTs which have nothing to do with this new proof of identity concept.

SBT is a new concept and hard to understand because for some reason we are always comparing new crypto token tech to something we can trade.

vv181

legendary

Activity: 1932

Merit: 1273

What do you mean by not transferable? Does the shown picture has the word "Content not available yet" made you think it's not transferable?

I see that currently all or most of the NFTs collection shows unavailable content images. According to the sources[1][2] that I take a look at, it indicates that the NFT image itself hasn't been updated by the Opensea website itself, so you might want to wait for a little bit. Another possibility the NFT might be delisted due to whatever the OpenSea terms that is breached.

If it is only the matter of the image not yet updated, there is a solution that might be able to fix it. On any NFT URL, click the 3 horizontal dots and then click the Refresh metadata button.

[1] https://tokenizedhq.com/content-not-available-yet-opensea/
[2] https://www.reddit.com/r/NFT/comments/r5b7ue/what_does_content_not_available_yet_mean_on/

Ivartheragnarson

jr. member

Activity: 58

Merit: 4

I have seen, there are some soul bound tokens to be sold in NTF marketplaces . how could it be possible if SBT tokens are not transferable??
I will attach some links to tokens below. some one explain me this plz. specially OG s. thank you!

https://opensea.io/collection/alienswap-genesis-soul-bound-nft

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