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/
Company: NFTO Ltd.
Contact: Yan Samton
Telephone: +1 24 020 200
Address: 3901 Mutton Town Road, Silverdale, Washington