VeeFriends announces the release of ‘Burn Island’ today! Burn Island is a new platform in the VeeFriends universe. Excitingly, it allows VeeFriends NFT holders to burn their NFTs. In exchange, they get access to events, physical or virtual rewards, and other rare or valuable NFTs. By burning NFTs, Burn Island rewards, surprises, and engages VeeFriends holders. Furthermore, it also adds deflationary token mechanics to VeeFriends NFT collections. Let’s take a look at VeeFriend’s Burn Island!
What is Burn Island and how does it expand the VeeFriends ecosystem?
Serial entrepreneur, Gary Vaynerchuk, founded and created the NFT project, VeeFriends. The project, which launched in 2021, achieved Vaynerchuk’s goal of building intellectual property by leveraging NFT technology and smart contract capabilities. Vaynerchuk imagined, created, and drew the characters within the VeeFriends universe himself, each embodying traits he believes lead to happiness and success. The ultimate goal of Vaynerchuk’s vision is to scale his ideas through the characters and the attributes they represent.
Therefore, VeeFriends designed Burn Island as a new platform in their world to expand the project, business and intellectual property. It allows VeeFriends NFT holders to burn their tokens to access other rare or valuable NFT collectibles, physical or virtual rewards, and events. However, on Burn Island, any NFT can be used to burn tokens. However, it is primarily intended for those who have VeeFriends smart contracts, including the VeeFriends BOOK GAMES.
How does Burn Island work?
Burn Island is activated through eruptions. Each eruption requires specific NFT collections, rarities, or a combination of the two in order to participate in the burn and win the eruption prize. Also, all eruptions will have a start and end date and will not overlap with each other. In fact, the first ‘eruption’ is already scheduled, starting on February 21 and ending on March 2.
In addition, Burn Island will also offer different trades with each eruption, including 1-for-1 trades, many-for-1 trades, and lower-cost entry point giveaways. This creates an engaging gameplay dynamic that inspires all types of VeeFriends NFT holders to get involved, as Burn Island is primarily for them.
What is the long-term vision for VeeFriends?
The new platform will continue to grow the VeeFriends brand, and using NFTs to create real-life value remains a priority for VeeFriends. Subsequently, Burn Island is part of a long-term vision to innovate and evolve IP. VeeFriends president Andy Krainak said the goal of the Burn Island launch is to create opportunities for incumbents. Specifically, holders will be able to participate in new experiences and increase the rarity of their NFTs.
VeeFriends will use the Burn Island website to share all information regarding rewards and requirements. In addition, participants must register in the Vee Friends website, have a VeeFriends account and meet all requirements. Industry experts widely consider Gary Vaynerchuk a highly innovative and forward-thinking business leader. Furthermore, with his keen ability to spot emerging patterns and their potential impact on markets and consumer behavior, he has earned a reputation as a thought leader in the field. This new company is an example of his innovative strategy, aimed at delivering significant value and benefits to the community.
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