Increase voluntary burn rate with NFTs

currently some people are just burning their own money, without getting anything in return… imagine if people got some kind of rewards?

terra should sell nfts for luna and then burn the luna they received. nfts should be limited according to their prices, let’s say 4,200,000 nfts for the lowest tier for something like 42,000 lunas. that would be 176,400,000,000 per each unique nft. let’s say they have 10 different nfts at this price point… that would be 1.764t! sure they wouldn’t sell all of em but they would sell a decent amount in this tier i believe… even i would consider it, to have some memento from this historic event. something to remind me that i was part of all this.

then 69,000 nfts for 690,000 lunas, that would be 47,610,000,000 per each nft. let’s say they have 50 of them… 2.38t. this tier would be appealing for bigger investors. it’s significantly more expensive and won’t sell as much as the first tier but can make an actual impact. if someone bought millions of luna and believed, they would consider. i mean, some people are burning millions at once just to help luna community. this way they would at least get something in return.

then they could have unique, more valuable maybe limited to 100 per each kinda rare nfts.

let’s say they have 500 different nfts at this tier for whales! each costing a whopping 100m. that’s 5t lunas!

then some really unique ones, one of a kind nfts… maybe even big exhanges would consider buying it? for publicity etc. these would be expensive tho. like 100b lunas or something. not for your average individual. most wouldn’t sell but even a single sale would help at this point. i imagine even a few youtubers might do it.

i can see a mr beast video sponsored by binance buying an nft from this tier… even billionaires like elon musk or mike novogratz might buy some. yeah mike lost a lot and probably angry about luna, but at one point he believed in this project and got that tattoo! he loved luna and might consider helping it, and he can also understand all those people who lost their money.

most important part, don’t burn the lunas during this period. do it for a month, 3 months… depends on the sales. gather all those lunas in separate wallets so people won’t know how much terra got, can’t display remaining stock for nfts either, well duh… otherwise people could calculate it.

that way supply won’t decrease so the price won’t skyrocket instantly because that would prevent nft sales for sure, the whole idea would fail… then burn them all at once! this could get rid of trillions in a few months if the community helps. at this point luna would gain trust again. let’s say half the lunas got burnt, that would increase the market cap like 10x or something… everybody would win.

got great results but not enough yet? do it again… adjust the prices accordingly create a new set of nfts… if the first phase succeeds, that would allow 2nd or even 3rd phase to reduce luna supply significantly.

and hey, these nfts, especially the higher tier ones can get some value overtime. so people wouldn’t just burn their money. burning luna would be another kind of investment…

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Great idea.

Check this one

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good idea as well. we just need to increase voluntary burns in addition to systematical burn imo. we just have too many lunas and we gotta burn them asap to revive this project.

you could even sell some tickets for an nft lottery. 1m per ticket and one person gets a unique one of a king nft for example… that would burn a lot of lunas

or maybe reach to some popular twitch streamers, youtubers etc. make a donation system based on luna and burn 80% of the lunas, sell the remaining 20% and donate them to charity or something… we have infinite options and luna is still popular, it can come back! yeah the crash was unfortunate but more people know about luna now, got a huge publicity and that publicity can be powerful if used properly.

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It’s great idea, i was thinking about this concept too.

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This is the exact kind of shady hair brained accounting that made this mess.
If theres something worthless created (nft) that is assigned a value, it becomes credit for the burn, which defeats the purpose. Just like the 2 years people are supposed to wait for v2 tokens, a debt has to be realized one day. I have seen no plan for what will happen when those tokens need to be minted 2 years from now. Do you know what will come of your millions of nft’s? Theyll be clogging up wallets with zero value forever.

@Seca400 nfts will be worthless that’s the point. they “might” gain some value over time. rare ones might worth something if luna comes back and this historic moment in crypto becomes a huge success story…
for now it’s just a token of appreciation for the people who helps this cause. we already have some people burning their lunas for nothing at all… if people are willing to do that for nothing, more people would do it for something. that’s just a little encouragement. if the plan succeeds those people will win anyways… remaining lunas in their wallets will be more valuable. worst case scenario, if this plan fails… at least people who tried will get some memento.

this might even become a trend, people might do challenges to burn lunas by buying nfts lol… luna became a meme token like it or not. got a huge publicity and is pretty popular… we can use that power. as i said, we need big voluntary burns in addition to systematical burns to speed up this process… we have a lot to burn! this is just one idea. there’s no reason we can’t have multiple projects at the same time. just do this, then if someone comes with another good idea try that one as well… better than doing nothing, right?

i’ve seen 34m burn yesterday and 14m burn today… just in one transaction. people are already doing it. just reward them with something even if it’s worthless in terms of actual monetary value.
and not burning coins in real time would be a better idea since it wouldn’t increase the price… otherwise this process would slow down significantly. if burning the same amount of lunas costs twice as much we wouldn’t have as many burns. but if they gather the lunas, burn a trillion+ at once we would see a significant uptrend and price would be relatively stable during the process…

here’s the 34m https://i.imgur.com/7iUVJNF.png it’s buried deep rn so i can’t find the transaction link but it’s real.
here’s the 14m Terra Finder

here’s some recent million+ burns
https://finder.terra.money/mainnet/tx/DCEC6FA36849368871A6462C84BF1EF18A95D4FD49B6AC602581FB8EEB2551CA
https://finder.terra.money/mainnet/tx/75AE0EB518711791F8C66FBF1D7771B473990C15E7BCF02A34895480CD572468
https://finder.terra.money/mainnet/tx/3680428DA1E62E13C331619427ED17EB1791853EDF24B7B68F9E951F007EBBB4
https://finder.terra.money/mainnet/tx/9045994199F3B26EE95FCE12CE301F1FD0C24B6A846185A8F9E8C1AD12C16DD0
https://finder.terra.money/mainnet/tx/711122A27C53D1004FBD3C4FF9D75E2195FAB10307361641AB7EAD54F865AB15
https://finder.terra.money/mainnet/tx/424106328317F491759DDF0548E0E916E43FC5714A187CF0284C8D60CA606928
https://finder.terra.money/mainnet/tx/BCD49DBB684698A48CCAC181529D3A16952EFC3223C919B7CF660E92114096E0
https://finder.terra.money/mainnet/tx/630C2BB3BACB8E338C0974170F760E3FBF17779BF4117C842FF1FBA73B853526
https://finder.terra.money/mainnet/tx/CC2B36308716F6D55397270D4300484BD1EF4FCBFF6BE1018C983C78B0767D98
https://finder.terra.money/mainnet/tx/7EDF4DDA278F633FBABB1DF79FA4429D48D0F9DA0A231A8331364603BCB77AFF
https://finder.terra.money/mainnet/tx/3C8737BAB809929EF70B82FD73182A254017EA8D4431A911FCE55194F26B7E45

yes,nft is a good idea,
and I thought of a special way to generate an NFT that no one had ever tried before,

That can be used as a supplement to your idea

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I think you have completely missed the point. It’s not about paying the debt back with NFT’s - it’s just a fun way of trying to reduce the total supply.

The only way to try and salvage any money from Luna Classic is to reduce supply - there’s simply too many coins circulating right now. Hundreds of millions of Luna Classic have been burned by the community already. Yes it’s a drop in the ocean in the grand scheme of things - but it’s a start, and that’s without any incentives to burn. There will need to be other measures taken such as a transaction tax and possibly some sort of lockup scheme. There is no money for a buyback and burn, so we need to make use of simple measures such as this where we can. It has zero impact on the day to day running of Luna Classic (unlike a transaction tax which will require careful planning and implementation) and it’s entirely voluntary - if you don’t want to take part, then you don’t have to.

I don’t know if you’re a pre crash Luna holder or not, but either way, there are 2 options:

1 - Accept your losses, sell your remaining Luna for whatever it’s worth and move on!

2 - Be prepared for a long and difficult fight to burn as much Luna as possible with zero starting capital!

I think this has limited effect.
You’re going to let greedy people burn it, or people who buy LUNC at low cost to burn LUNC, then you have to have a strategy for them to be willing to burn.
A strategy must contain at least two of the following three factors:

  1. Burning can add value.
  2. Those who don’t burn will gain less than those who burn.
  3. There may be losses if not burned.

You can refer to my previous proposal, the values ​​in the article can be adjusted, and even the holders after the attack or after restarting the transaction can bear a larger proportion and reduce the number of LUNA V2 they get.

This is good idea,

For example, Make “LUNA SAVER” NFT, and sell it to public by auction.
The people who has this NFT will be white listed to some Terra NFT minting.
The gathered LUNA will be burnt.

i do i do