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Goblintown to Launch Deflationary NFT Burn Strategy at Midnight Beijing Time

According to the Goblintown team, the GobStrategy will begin at 12 PM ET, using its 1% allocation to buy and burn NFT Strategies Goblins at 1.2x price and destroy their 500,000 $GOB token pairs.

NFT

Summary

NFT project Goblintown announced the start of its GobStrategy deflationary plan at 12 PM ET. The project will use its 1% allocation to purchase and burn NFT Strategies Goblins listed at 1.2x price. Each burned NFT will be permanently removed along with its associated 500,000 $GOB tokens. According to the team’s official announcement, this operation aims to reduce both NFT and token supplies to enhance the deflationary mechanism of the Goblintown ecosystem.

Terms & Concepts
  • Deflationary NFT: An NFT series designed to decrease in supply over time through mechanisms such as burning, which can potentially increase scarcity and value.
  • Token Burn: The process of permanently removing a cryptocurrency token from circulation, reducing its total supply.
  • GobStrategy: A planned operation by the Goblintown project to buy and burn specific NFTs at set prices, permanently reducing supply.