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The future of NFT holder benefits
VeeFriends announces the launch of ‘Burn Island’ today! Burn Island is a new platform in the VeeFriends universe. Interestingly, 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. Launched in 2021, the project has realized Vaynerchuk’s goal of building intellectual property by leveraging NFT technology and smart contract capabilities. Vaynerchuk imagined, created and drew the characters in the VeeFriends universe himself, each with the characteristics he believes lead to happiness and success. The ultimate goal of Vaynerchuk’s vision is to scale his ideas through the characters and qualities they represent.
Therefore, VeeFriends designed Burn Island as a new platform in its world to expand its 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. All in all, on Burn Island, any NFT can be used to burn tokens. However, it is mainly intended for use by those on VeeFriends smart contracts, including VeeFriends CARD GAMES.
How does Burn Island work?
Burn Island is activated through eruptions. Each breakout requires specific NFT collections, rarities, or a combination of the two in order to participate in the burn and earn the breakout prize. Also, all outbreaks will have a start and end date and will not overlap. In fact, the first “outbreak” is already planned, and will begin on February 21st and end on March 2nd.
In addition, Burn Island will also offer different exchanges with each outbreak, including 1-for-1 exchanges, many-for-1 exchanges, and cheaper entry point contests. This creates an engaging game dynamic that inspires all types of VeeFriends NFT holders to participate, as Burn Island is mainly for them.
What is the long-term vision for VeeFriends?
The new platform will continue to expand the VeeFriends brand, and using NFTs to create real value continues to be a priority for VeeFriends. Subsequently, Burn Island is part of a long-term vision to innovate and develop IP. President of VeeFriends, Andy Krainak, said the goal of Burn Island’s launch is to create opportunities for holders. Specifically, holders will be able to partake in new experiences and increase the rarity of their NFTs.
VeeFriends will use the Burn Island website to share all information about rewards and claims. In addition, entrants must register on the VeeFriends website, have a VeeFriends account and meet all requirements. Industry experts see Gary Vaynerchuk as a highly innovative and forward-looking business leader. Furthermore, with his acute ability to spot new patterns and their potential impact on markets and consumer behavior, he has earned a reputation as a top thought leader in the field. This new venture is an example of his innovative strategy, aimed at delivering significant value and benefits to society.
