Tribul logo
Tribul logo

All articles

What happens to the NFT if I take possession of the physical art?Updated a year ago

If you choose to have the physical art shipped to you, the “tradeable” NFT is converted to a “soulbound” NFT. A soul-bound NFT is a non-transferable NFT that cannot be sold and therefore holds no financial value. However, you are still able to use the soulbound NFT to display your ownership of the artwork online and in digital galleries.

Previous models send collectors both the NFT and the physical artwork without a central custodian, which can lead to the two being separated fairly easily. If the tradeable NFT and the physical piece are in circulation at the same time, the value of the artwork is blurred. A collector could decide to trade the physical piece but not the NFT, or vice versa. With Tribul’s solution, the issues surrounding digital trade of physical art are resolved.

Was this article helpful?