How can NFTs help with identity management?

[James Anders]

Fraud and identity theft already abound in cyberspace. With the level of interconnectedness that the Metaverse will bring, safeguarding one’s identity becomes more important than ever. With a completely decentralized virtual world already in the works, identity management becomes imperative. Whether it’s on social media or NFT gaming marketplaces, there is a lot that NFTs can do to aid the management of identity. Soulbound tokens, for instance, are already benign developed to hold all the information of a single entity. With NFTs, personal data can be stored on the blockchain and you can use your identity to access multiple platforms ad ecosystems. The inherent security, too, greatly reduces the chance of fraud, making NFTs an extremely viable form of identity management.