Foresight Ventures: Monopolistic Web3 Social Protocols & Soulbound Tokens
Compared to existing web3 identity protocols, soulbound tokens (SBT) have stronger advantages in scenarios such as non-transferable reputation, governance airdrops, negative reputation, and wallet recovery. Before SBT can be widely implemented, there are many issues to be resolved, including privacy, security, and storage. In the future, it is likely that SBT will coexist with various identity solutions, just like L1 scaling solutions.