@onetokotin25
NFTs are digital collectibles that have surged in popularity, and their value often stems from their scarcity. A key mechanism to increase the scarcity of NFTs is through burning. Burning involves permanently removing an NFT from circulation, reducing the total supply and potentially enhancing the value of those that remain. This process can be initiated by the creator, the owner, or through smart contracts that automate the burning based on certain conditions. The increased rarity can drive up demand and price, making burn mechanisms an intriguing aspect of NFT economics.
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