Business News Report
February 16, 2023

VeeFriends Announces a New Gamified Token Burn Experience, Burn Island

In Brief

NFT project VeeFriends announced the launch of a new platform, “Burn Island.”

The experience enables NFT holders to burn their tokens in exchange for benefits or higher rarity tier NFTs.

Entrepreneur Gary Vaynerchuk’s NFT project VeeFriends announced the launch of a new platform. Dubbed “Burn Island,” it offers VeeFriends and other NFT holders a gamified way to burn their tokens. 

The “island” features two ways of token burning. The first one, called Burn-Swap, allows users to burn NFTs in exchange for exclusive digital and physical rewards. The second one, named Sweepstakes, gives holders an opportunity to win prizes when burning NFTs. However, the win is not guaranteed. 

The first “Eruption” on the platform will be live from February 21 through March 2. During this period, VeeFriends holders will have the option to burn their non-fungible tokens to get access to exclusive events, rewards, and other benefits. In addition, Burn Island will enable community members to exchange their NFTs for rare and valuable tokens. To access the Eruption, users must register on the updated VeeFriends website

Even though the platform was built with a focus on VeeFriends’ smart contracts, any NFTs can be burned using the Burn Island. 

VeeFriends is a collection of 10,300 NFTs featuring hand-drawn animals, humans, and other creatures. Its current floor price is 5.19 ETH (approximately $8,708 at the time of writing), with 60,103 ETH of volume traded. Notably, the project often collaborates with artists and brands to release additional utility. For instance, in May 2022, Gary Vaynerchuk’s web3-focused agency VaynerNFT (later rebranded to Vayner3) partnered with Scotch whiskey brand Johnnie Walker. The companies created limited-edition bottles of blue-label whiskey customized with the VeeFriends imagery. The bottles were then gifted to VeeFriends’ “Goats” NFT holders. 

Read more about VeeFriends:

Disclaimer

In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.

About The Author

Valeria is a reporter for Metaverse Post. She focuses on fundraises, AI, metaverse, digital fashion, NFTs, and everything web3-related. Valeria has a Master’s degree in Public Communications and is getting her second Major in International Business Management. She dedicates her free time to photography and fashion styling. At the age of 13, Valeria created her first fashion-focused blog, which developed her passion for journalism and style. She is based in northern Italy and often works remotely from different European cities. You can contact her at [email protected]

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Valeria Goncharenko
Valeria Goncharenko

Valeria is a reporter for Metaverse Post. She focuses on fundraises, AI, metaverse, digital fashion, NFTs, and everything web3-related. Valeria has a Master’s degree in Public Communications and is getting her second Major in International Business Management. She dedicates her free time to photography and fashion styling. At the age of 13, Valeria created her first fashion-focused blog, which developed her passion for journalism and style. She is based in northern Italy and often works remotely from different European cities. You can contact her at [email protected]

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