One of the largest collections of non-fungible tokens (NFTs) of all time will be part of an innovative universe announced on Thursday. Here’s what you need to know about “Burn Island” and VeeFriends.
What happened: Contractor Gary Vaynerchuk, aka Gary Veelaunched VeeFriends in May 2021 and a second collection called VeeFriends Series 2 in April 2022.
“Burn Island” will combine storytelling and functionality according to the company with the potential to bring “brand value and community interaction” to VeeFriends holders.
Holders can burn NFTs in exchange for access to events, physical rewards, virtual rewards and rare NFTs.
“By burning NFTs, ‘Burn Island’ serves both as an engaging way to reward and surprise VeeFriends holders and also implements deflationary token mechanics to VeeFriends’ various NFT collections,” the company said.
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“At VeeFriends, we are constantly working on innovative ways to bring value to our community and create excitement,” VeeFriends President Andy Krainak so. “The goal behind the launch of ‘Burn Island’ is to create potential opportunities for increased rarity and holders to have the opportunity to engage in new experiences.”
The new addition to VeeFriends World is built on the goal of expanding the project and intellectual property. The “Burn Island” platform will include VeeFriends BOOK GAMES, which was a Layer 2 NFT created by Vee that connected to his best selling book, “Twelve and a Half.”
The “Burn Island” activations require certain NFT collections, rarities or a combination of both in order to burn for the prize listed. Outbreaks have start and end dates, requirements listed and be sequential so as not to overlap.
The “Burn Island” breakouts will primarily be for VeeFriends NFT holders, according to the release. Participants must register on the VeeFriends website to obtain a VeeFriends account to participate in the “Burn Island” breakouts.
The first “Burn Island” eruption will begin on February 21, 2023 and last until March 2, 2023.
Related Link: VeeCon 2022: First Year Event Brings Alpha, Community, Education & NFT Lessons
Why it’s important: VeeFriends is centered around characters that Vee created and drew herself. The characters include various qualities Vee admires and “believes will lead to happiness and success.”
The first batch of VeeFriends was a collection of more than 10,000 NFTs. VeeFriends Series 2 included 55,555 NFTs and had NFTs totaling 251 characters.
VeeFriends has been called Vee’s Mickey Mouse compared to media conglomerate Disney.
“We are on track to achieve what I had envisioned for VeeFriends and we will continue to create real value through these NFTs,” said Vee. “I’m excited for what’s to come and the opportunity to grow this amazing community even more.”
Series 1 VeeFriends holders receive free tickets to VeeCon for three years. VeeCon is the first ever ticketed NFT conference. The second annual event will be held in Indianapolis from May 18 to May 20, 2023.
VeeFriends collaborated with Macy’s Inc (NYSE:M) and Toys “R” Us on the launch of more products related to the VeeFriends characters in late 2022.
“As I have said from the start of VeeFriends, we build with a long-term vision; and we will continue to grow, innovate and develop IP for holders.”
VeeFriends price promotion: At the time of writing, VeeFriends had a floor price of 5.2 Ethereum (CRYPTO: ETH), or about $8,517.
VeeFriends Series 2 has a floor price of 0.28 ETH, or around $455.
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