Rh!noX Key Features
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Rh!noX NFTs are the first Soulbound Tokens to be launched on the BNB Chain.
Unlike typical NFTs that can only be traded on the open market, Rh!noX NFTs have a ‘soul’ that stores immutable data such as action logs, owner credibility, and social status. Like an identity card or a passport, Soulbound Token can help build a user's digital reputation in Web3.0.
A 'soul' is formed when the owner possesses a unit of Rh!noX NFT. The soul is essentially a bookkeeper that accounts for the owner's transactional history and assigns a hidden credit score to the activities. For instance, if a verified Rh!noX NFT holder has actively participated in campaigns that support the development of Rh!noX projects or any partner projects, the soul keeps a record of these activities, which gives the holder the ability to enjoy exclusive perks and benefits.
Vitalik Buterin's concept of the 'Soulbound Token' is that it should be non-transferable. However, in the case of Rh!noX, owners can transfer their existing tokens if they are active contributors and meet certain milestones that allow them to upgrade or switch to a different 'soul' within the ecosystem. These upgraded souls will be able to access a different set of privileges that are even more exclusive, and the price of the NFT will increase accordingly.
Simply put, Rh!noX is built to help its owners demonstrate trustworthiness and credibility on Web3.0, and is used to further expand the utility of NFTs. The team envisions that the project can contribute to more applications of NFTs. These will all be built upon a framework of good reputation and provenance, which will be further explained in later sections.