News

NEW YORK, June 09, 2021 (GLOBE NEWSWIRE) — NFTO ONE is going to perform the first burning at June 11, 2021 (Friday) 18:00 (GMT + 8). 1,000,000,000 NFTO Tokens (approximately 10% of the total issuance) will be burned as originally intended to reward transactions of mining.

In order to reduce the upper limit of the total issuance, and the destroyed tokens will disappear permanently. By reducing the total supply of tokens and further increasing the scarcity of tokens, it is hoped that it will bring positive benefits to the market.

Create an ecosystem that truly belongs to the NFT

The original intention of NFTO ONE was to create an ecosystem that truly belongs to the NFT community. Unlike other ICO fundraising, NFTO tokens are distributed to its users for free through NFTO ONE through trading and mining. Approximately 60 million NFTOs have been distributed. NFTO has carefully evaluated the current market trading situation and the circulation is already sufficient, and it has decided to destroy part of the NFTO tokens.

Destroy and stop the distribution of the rewards, lock-up rewards will not be affected

In the past, NFTO users were able to obtain free NFTO as rewards through trading. In the future, they must freely purchase from the market or obtain them through the lock-up mechanism if necessary. The well-received lock-up mechanism rewards and the benefits of time multiplication will not be affected. NFTO ONE said: “I believe that reducing the release of new tokens will bring positive benefits to the overall community and ecosystem. In the future, we will continue to introduce more usage scenarios and applications.”

Official website: https://nfto.one/

Media Contact

Company: NFTO Ltd.
Contact: Yan Samton
Telephone: +1 24 020 200
Email: [email protected]
Website: https://www.nfto.one/
Address: 3901 Mutton Town Road, Silverdale, Washington

Products You May Like

Articles You May Like

New Peer to Peer Exchange Provides Africans with an Alternative to Paxful
Bitcoin traders eye ‘crucial’ $38K level as BTC price action consolidates higher
Bitcoin 2021 attendees’ positive COVID-19 tests are going viral
Thailand Bans Meme Coins, Fan Tokens, NFTs From Trading on Crypto Exchanges
Cryptopunk NFT Sold for Almost $12 Million in Sotheby’s Auction
$288K BTC price ‘still in play’ says PlanB as Bloomberg champions Bitcoin halving

Leave a Reply

Your email address will not be published. Required fields are marked *