ALT HD: Will Phantom’s NFT-burn launch be a game-changer for Solana?

On Wednesday, Solana-based pockets supplier—Phantom—introduced the launch of NFT burning. Through the identical, customers can take away spam NFTs despatched to them by scammers. It’s a recognized incontrovertible fact that unhealthy actors are all the time looking out for methods to steal customers’ funds, and this initiative taken by Phantom is to restrict the identical.

Phantom’s weblog post highlighted,

“Spam is a hard problem to solve. Bad actors are taking advantage of Solana’s low transaction fees to exploit iconic mechanics of web3, such as NFT airdrops.”

Undesirable NFTs often declare to present customers a present in the event that they click on on a hyperlink within the description. Doing so, as a rule, leads them to a website the place they’re both requested to approve a transaction to mint/declare a free token or are requested to enter their seed phrase. Following the prompts results in partial/full lack of funds. Per Phantom, the identical “can feel like an endless game of whack-a-mole,” however they’re “committed to winning.”

So, by way of the rollout of the burn characteristic, customers shall be given extra management over the contents of their wallets. Each time customers burn NFTs, and so they’ll additionally obtain a small deposit of Solana.

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