dappGambl has provided a report based on data from NFT Scan and CoinMarketCap, showing that out of the 73,257 NFT collections examined by researchers, 69,795 of them, or just over 95%, had a market capitalization equal to zero Ether.

👻Soulbound Tokens Triumph Over NFTs

Replacing NFTs are Soulbound Tokens (SBT), which were conceived by Ethereum founder Vitalik Buterin.

🎉SBT is a special NFT tied to a unique soul address for each individual (also referred to as a "soul").

🏳️Advantages of Soulbound Tokens (SBT):

 🟢SBT cannot be transferred, but can be revoked by the initial issuer.

 🟢SBT are sent to a specific soul address and permanently reside there, making them  ideal for use as credentials on the blockchain.

 🟢SBT can be awarded for tasks that require the recipient to be the sole beneficiary of the reward. This opens up possibilities for using these SBT as proof of course completion, educational or professional qualifications, access to virtual events, and much more.

🦾The Future of Soulbound Tokens

You can consider SBT as an excellent alternative to NFTs, capturing the entire space in the process. Projects are increasingly choosing it because they have several advantages and benefit all parties involved.