Coordinape, a digital community platform, is introducing CoSoul, a soulbound non-fungible token (NFT) that records a holder’s work history within digitally-native organizations. The CoSoul NFT, which is free to mint on Ethereum layer 2 network Optimism, allows holders to store their 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.
In addition, Coordinape is placing GIVE – its native token – contributions on-chain to enable 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 demonstrate a member’s commitment to a project.
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, the pseudonymous co-founder of Coordinape. 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, which helps DAOs manage and distribute resources to working contributors, has been working 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.