Ethereum co-founder on Non-Transferable NFTs
Vitalik Butterin shared his opinion on the better use case of Non-transferable Non-fungible collectibles.
The entry of the NFTs concept in this crypto Industry ended up into a milestone with several future real-life use cases. Now people are looking at the use of NFTs in real-estate priorities, where people can own their properties in the blockchain data with full safety. Day by day new concepts are entering this field.
On 26 January, Vitalik Butterin, Ethereum co-founder, published a blog on Non-Transferable NFTs collectibles. Vitalik noted that there can be better use cases with such NFTs.
Vitalik noted that such non-transferable NFTs are just like “soulbound” NFTs and they can be considered as true NonFungible collectibles, where no one can steal ownership from its owner.
Ethereum co-founder stated that such things may help the artists and charities with their true ownership features.
“While transferable NFTs have their place and can be valuable on their own for supporting artists and charities,” Ethereum co-founder wrote, “there is also a large and underexplored design space of what non-transferable NFTs could become.”
Vitalik also pointed out that there are some concerns with these things, like the privacy of the users. But at the same time, he asserted that some better innovations and engineering may cover these issues.
At the end of the blog, Vitalik said that such features may result in huge benefits for this world but here community needed to focus to work on it.
“If we can, this opens a much wider door to blockchains being at the center of ecosystems that are collaborative and fun, and not just about money,”
Earlier this Vitalik shared his stance on the future of the crypto industry and claimed that in the future we will see multiple cross-chain blockchain Networks but warned the community that there are chances of huge vulnerability issues across the bridging between networks.
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