The route to reduction of promos.
Promo NFTs are an important part of building a promotion for upcoming drops. They are effective for engagement and promotion. The problem is often that those promos may have a temporary inflated value and then lose value in the future. Additionally the market can get saturated with them and they become a distraction rather than a desirable piece of art or history.
Promo NFTs will have a burn mechanic added either after, or near the end of, the promotional period for upcoming drops. The crafting recipes will be such that they significantly reduce the amount of promos available on the market, but will not be able to burn the promo count to zero. Each promo will have it's own counts and use cases based on the individual drops.
The NFTs crafting using promos may serve a number of different purposes. These will depend on the collectible type, and potentially the collaboration or drop for which the promos are used. At launch of promo burning there will be two primary use cases, but it's likely others will be added in the future.
- Promos may be used as burns to receive a whitelisting badge to participate in presales.
- Promos may be used to burn for tokens. To learn more see the Dual Token System section.