Thu. Mar 16th, 2023

South Korea’s NFT project DAVA (Dava) is releasing Soulbound Token (SBT).

Lee Kwang-ho, the leader of the Daba team, announced the release of SBT in an interview conducted on Meta-Conz Radio on the 2nd (Tue). This is the first case of applying SBT technology among domestic NFT projects.

Daba is a project being fostered by Unopened (Hashed Studio), a South Korean blockchain startup studio. Unopened is a subsidiary of Hashid, a VC (venture capital) specializing in blockchain in Korea. Unlike other NFTs, Daba is highly regarded for introducing a wearable system that allows users to freely dress and decorate their avatars. Since its first release in November last year, Daba has attracted attention by selling out the entire volume at a public sale.

The SBT technology applied by Daba this time is a concept suggested by Ethereum founder Vitalik Buterin in May, and is an NFT that cannot be transmitted or traded. The expression “Soulbound” is derived from Blizzard Entertainment’s MMORPG “World of Warcraft” (an item attributed to a character). In particular, it is a technology that the blockchain industry is paying attention to recently, as the winning team and the second-place team announced and won a project using the SBT at the 2022 Hackathon in Ethereum New York in June.

Daba plans to first pay SBT to attendees of the event hosted by Unopened on the 5th. In general, commemorative NFTs distributed at the venue can be traded and transmitted. For this reason, there was a problem that the actual visitor and the owner of the NFT did not match. However, the Daba team applied various verification procedures such as soulbound technology and GPS, which cannot be traded and transmitted, to this, so that only on-site visitors can be issued.

Visitors who visit the event site can use their NFT images to create their own SBT. In addition, wallets with Dava SBT can benefit from DAVA’s game “DAVA Eternal: The Beginning,” which is scheduled to be released in September in a close beta version.

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