How WZRDS Project Penalizes Flippers as it Burns Listed NFTS

Jamal Molla
Written By Jamal Molla
I write about cryptocurrency, with a special interest in NFT and metaverse in particular.

NFT holders can vote to burn WZRDS NFTs should the price drop below a certain level as part of the WZRDS NFT collection. Keeping NFTs safe is as simple as keeping them in your wallet or putting them in a safe deposit box. Its floor price has risen from 0.01 ETH to 3.20 ETH since July 8th, when it was first listed.

The NFT line based on the legendary Kingdom of Tyrol, WZRDS, was launched on June 29th. Even though there were originally 10,000 NFTs, more than half of them have been marked out and are “exploring the forest.” Half-Skull of Wizard NFTs has replaced the burned WZRD NFTs, which are currently sold for 0.17 ETH apiece.

‘Idk who needs to hear this, but if a project discourages listing by forcing the burning of NFTs, sell everything and never look back,’ wrote NotThreadGuy, the project’s vibe director. It’s a disaster because the floor is constructed of synthetics.

Agreement that is tailored to the needs of the parties

To swap your token, an NFT contract verifies that you are the rightful owner of the token. In addition to the standard isApprovedOwner method found in most NFT contracts, the WZRDs contract has an altarOfSacrifice method.

It’s a “mapping that keeps track of addresses,” says 0x beans, a former Coinbase engineer. “Anyone in this mapping may transfer/burn ANYONE’S tokens freely.” A WZRDs owner can therefore authorize the burning of other NFTs at their convenience.

While some WZRD holders are unhappy about this, many others appreciate the innovative usage of smart contracts and storytelling by WZRDs. “WZRDS is an interactive, lore-heavy, narrative-based venture where holders experience the story through their NFTs,” NFT trader @0b00oo explains in a tweet.

Trader Crypto0Hash alleges he is “playing along” despite his NFT being torched. The story does not end here. In the future, the utility of the wallet skeleton will be revealed, according to rumors.

In this wizarding tale, only time can tell what happens next.

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