My fellow retards,
Vitalik recently dropped a blogpost discussing the idea of “soulbound” NFTs. If you aren’t a raging nerdberger like your phriendly deacon, you may not know that in the video game World of Warcraft, soulbound items can be used by none other than the character to which they are affixed. If you pick up an item that “binds on pickup” then it becomes soul bound to you. It is useless to anyone else and can only serve you. Vitalik imagines a future state of Ethereum where “soulbound” NFTs play a major role.
V suggests that this would allow NFTs to be sent to an address and never be moved. There are many potential applications if this structure were to be implemented. One could imagine that upon graduating some program or completing a course, your address could be sent a soulbound NFT attesting to your success. If you had the ability to send that NFT to another user, it would defeat the purpose of acting as an attestation. If this was the case, phon/ongod could buy a black belt NFT from Risky Business and parade around as if the deacon of abysmal hope was able to toss cucks around in the ring. Certain NFTs would only work if they could be implemented in such a way that they couldn’t be transferred.
There are some implementations for soulbound tokens already. They may be used for reputation in a given DAO or proof of doing “something”. The problem is that all of these implementations work on edge cases to prevent wrapping and other methods to transfer them on chain. Unfortunately for them and for all bullish on this use case, they do not realize that Phonon one-shots their little plan.
Phonon allows a user to send a private key through a secure channel from one person to another. It doesn’t matter what that private key controls. It could be assets on six different blockchains or could produce a signature to unlock a vault of encrypted data. For purpose of this pheverdream, it would house the public address that controls a soulbound NFT. What this means is that phon/ongod could provably send an “unsendable” soulbound NFT to another user in a secure fashion, thus fully defeating the purpose of soulbound NFTs.
Elves wonder if Vitalik has considered transferability outside of the protocol. Phonon really does throw a wrench in many designs. It’s something so unique and special that the ecosystem is not yet ready for the implication.
Phonon DAO is out here casually shifting the very firmament on which the gods have built our blockchain future.
Tips to phonongod.eth will be invested in bounties that advance the Phonon project.
Hatemail to phonongod@protonmail.com will be scathingly considered.
Targets for the marketcap of PHONON DAO remain:
$1b by Q2 2022, $12b by EOY.
On the high end, $300b marketcap in 3 years.