VeeFriends ‘ Burn Island “Eruption 1” is here. NFT collectors can unlock rare digital collectibles, rewards, and events through NFT burning.
- VeeFriends’ new platform issues rare digital and physical rewards, collectibles, and events through NFT burning.
- Burn Island is open until March 2, 2023. To join, users must send their chosen digital assets to a burn address, removing it from circulation, before unlocking physical and virtual rewards via the platform.
- Burn-Swap allows token trading for new items during each eruption, and sweepstakes offer a chance to win exciting prizes by burning an NFT to enter.
- Anyone can use this system, but it’s primarily designed for VeeFriends collectibles.
Everything You Need to Know About Burn Island
Burn Island is a deflationary platform in the world of VeeFriends. It unlocks both physical and virtual rewards through NFT burning.
To partake, users must remove their chosen NFT from circulation by sending it to a burn address without ownership.
Once burning the NFT, the user will no longer own it. Instead, it will now publicly be viewable on the burn site and unrecoverable.
Although this sounds like risky a process, NFT burning opens up numerous possibilities for NFT holders.
Burn-Swap allows the trading of digital assets for new items that will arise during one of island’s eruptions. And each eruption opens different rewards with its own unique experience.
On the other hand, sweepstakes offer users a chance to win exciting prizes when burning an NFT as entry.
This new feature is available for all types of digital assets. However, only VeeFriends collectibles can get the most out of this new cutting-edge system.
VeeFriends will host an “Eruption” frequently. The first one started two days ago (February 21) and will end on March 2, 2023.
Burn island offers a little something for everyone. So, join the explosion!
Subscribe to the NFT Lately newsletter to receive news covering the latest NFT-related drops, releases, reviews, and more.