I've seen a few things today referencing EIP-6551, the (draft) proposal for Token Bound Accounts (Bankless wrote about it here: https://metaversal.banklesshq.com/p/erc-6551) and I figured I'd chime in. TL;DR: I don't think they're particularly exciting or innovative and they have a high potential for danger. 🧵👇

I was initially thinking this might be an interesting way to get neophytes an on-chain account: here's your NFT, you're now on-chain! ...but you have to already have an account (wallet) to own the NFT to get the Token Bound Account, so it doesn't work in that scenario. That's okay, they don't say it's for that.

Searchcaster