Wednesday, April 17, 2024

Digital community platform Coordinape is rolling out CoSoul, a soulbound non-fungible token (NFT) that tracks a holders’ work history within digitally-native organizations.

The CoSoul NFT, a free-to-mint on Ethereum layer 2 network Optimism, allows holders to collect the participation data, accolades and employment verification on-chain. Soulbound NFTs are non-transferable and are used to represent social identity in a decentralized society. The CoSoul NFT updates each month with new metrics and generative artwork that changes based on a holder’s activity.

Coordinape is also placing GIVE – its native token – contributions on-chain to allow decentralized autonomous organization (DAO) participants to reward other members for their participation within the community. With CoSoul, a holder’s DAO participation is on-chain to help publicly distinguish a members’ commitment to a project.

Zemm, the pseudonymous co-founder of Coordinape, told CoinDesk that while platforms like LinkedIn showcase an employees’ professional history as well as colleague endorsements, they might not always be truthful.

“We think that work history will live on-chain for digital communities and digitally native organizations (like DAOs), as a record of provable interactions between individuals, teams, orgs, etc.,” said Zemm. “For contributors using Coordinape, this is an early primitive that we think can add to the space and story of someone’s work and collaborations, and in a manner that will become more sovereign and provable than has been done before.”

Coordinape, a digital platform that helps DAOs manage and distribute resources to working contributors, has worked within Web3 workplaces for the past two years to add new methods of decentralized payment and management. In August, Coordinape rolled out CoVaults, smart contracts that allow DAOs to pay their contributors with ERC-20 tokens.

Edited by Rosie Perper.

#FreetoMint #Soulbound #NFT #Tracks #Web3 #Work #History

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