Soul-bound tokens are tokens that can only be owned, or transferred by a specific user address. Unlike NFTs, which are freely transferable and tradeable, soul-bound tokens often serve as a credential.
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Pre-minting will end on Feb. 4. On Feb. 6, winners will be announced, Swaroop Hegde, co-founder and CEO of PowerLoom protocol, told Blockworks in an interview.
A total of 10,000 independently run Snapshotter Lite node spots will be available, said Hegde. Additional node spots will be given to PowerLoom community members, ecosystem partners and contributors.
“You could essentially acquire more than one soul-bound token as there are 10,000 nodes, but we are limiting it to 10 per person,” Hegde said.
The node mint follows a recent incentivized testnet that PowerLoom undertook in partnership with Coinlist, a cryptocurrency exchange, and it is designed to enable less technically experienced users to participate in the network.
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Pratik Gandhi, marketing lead at PowerLoom, told Blockworks that PowerLoom’s goal is to become a completely decentralized data network that is composable and flexible in obtaining data from any chain.
“Although we are EVM-focused right now, if someone wants to get data from Celestia data markets, for example, they can and PowerLoom will support that,” Gandhi said.
According to the project, residents in the US and sanctioned countries will not be able to participate in the mint.
blockworks.co
