▪️$NFG and NFTs burning

$NFG Burning

The burning mechanism plays a crucial role in managing the supply and value of $NFG tokens. Here are the key aspects of $NFG burning:

Buyback and Burn: A portion of the proceeds from ticket sales and special NFTs will be used for buyback and burn activities. This strategy helps reduce the total supply and can contribute to price stability.

NFT Transaction Fees: A percentage of the transaction fees generated from NFT trades will be utilized for buyback and burn purposes. The project can actively repurchase $NFG tokens from the market and permanently remove them from circulation. This process helps to counterbalance the supply and demand dynamics, potentially driving token value appreciation.

Future Plans: As the project progresses, additional buyback and burn initiatives will be introduced to maintain a stable price and decrease the overall supply of $NFG tokens over time. These plans are designed to align with the project's growth and ensure a sustainable ecosystem for $NFG holders.

NFTs Burnings

Burning NFTs within the NFTFiGateway ecosystem serves multiple purposes, including managing the NFT supply and enhancing the scarcity and value of the remaining NFTs. Here are the main aspects of NFT burning:

NFT Transaction Fees: A percentage of the transaction fees generated from NFT trades will be allocated to buyback and burn NFTs. This process involves repurchasing NFTs from the market and permanently removing them from circulation. By reducing the number of available NFTs, the project aims to increase the rarity and desirability of the remaining NFTs.

Upgrade Process: When NFTs undergo the upgrade process, all the NFTs involved in the upgrade will be burned. This ensures that only the upgraded versions remain, preventing an excessive increase in the total NFT supply. By removing older versions from circulation, the project maintains the integrity and value of the upgraded NFTs.

Staking Contribution: NFTs participating in the staking process will also be subject to burning. This mechanism incentivizes NFT holders to stake their assets, as they contribute to reducing the supply and potentially drive up the value of the remaining NFTs.

Future Development: The project's future development plans will prioritize NFT burning as a means to enhance scarcity and value. By implementing various strategies and policies, the project aims to create a sustainable ecosystem where the NFTs gain value over time.

Please note that the burning process involves the permanent removal of tokens or NFTs from circulation. It is a deliberate mechanism implemented to manage supply, increase scarcity, and enhance the value within the $NFG and NFTFiGateway ecosystem.