• Contact Us
  • Affiliate Disclosure
  • Privacy Policy
  • Terms of Use
  • DMCA
Friday, June 9, 2023
WongaNews.com
  • Live Prices
  • Crypto News
  • Bitcoin
  • Altcoins
  • NFT News
  • Blockchain
  • Regulations
  • Trading
No Result
View All Result
  • Live Prices
  • Crypto News
  • Bitcoin
  • Altcoins
  • NFT News
  • Blockchain
  • Regulations
  • Trading
No Result
View All Result
WongaNews.com
No Result
View All Result

Phantom wallet introduces burn NFT feature along SOL rewards

August 18, 2022
in Crypto News
Reading Time: 3 mins read
A A
Phantom wallet introduces burn NFT feature along SOL rewards
ShareShareShareShareShare

Related articles

Testifying at U.S. House hearing

Testifying at U.S. House hearing

June 9, 2023
Ankr launches Enterprise RPC and AppChain Solutions on Azure Marketplace

Ankr launches Enterprise RPC and AppChain Solutions on Azure Marketplace

June 9, 2023

  • Phantom allows users to remove unwanted and spam NFTs from their wallets saving them from any phishing attacks.
  • Phantom is also working on bringing automated spam detection features in the future via providers like SimpleHash.

On Wednesday, August 17, Solana-based cryptocurrency wallet Phantom announced a new feature for burning non-fungible tokens (NFTs). Over the last year, the NFT industry has expanded very rapidly, however, there’s an equally fast expansion of NFT scams taking place in the market.

1/ Today, NFT burning is launching on Phantom across all devices! 🔥

Safely remove spam and clean up your Collectibles tab, all from right inside the wallet.

As an added bonus, when you burn those unwanted NFTs, you even make some SOL in the process. pic.twitter.com/aHHAyUqldP

— Phantom (@phantom) August 17, 2022

To address this matter, Phantom has come up with its NFT burning feature. Furthermore, Phantom will also be rewarding people in SOL tokens, who participate in burning unwanted NFTs. The official announcement from Phantom reads:

In an effort to protect and give users more control over the contents of their wallet, we are excited to introduce the Burn NFT feature in Phantom across all devices.

Safely remove spam and clean up your Collectibles tab, all from right inside the wallet. As an added bonus, when you burn those unwanted NFTs, you even make some SOL in the process.

Some of the top tech organizations like Meta and others have been indulging in launching their own NFTs in the market. But as said, NFT spams have been rising pretty fast. As a result, there has also been a major plunge in the NFT trading volumes this year. Recently, European Union officials are working to introduce NFTs under its markets in crypto-assets (MiCA) laws. As a result, NFTs will get a similar regulatory treatment to that of cryptocurrencies.

Steps to remove unwanted NFTs from Phantom

In its recent blog post, the Phantom wallet has come up with detailed steps for users to burn their unwanted NFTs. Users need to follow the following steps:

In the Collectibles Tab, select the NFT that you want to burn and then select the Burn Token function located in the upper right menu. This will remove the NFT token permanently will receive SOL rewards or the “rent” that was used to pay for storage.

Phantom says that the spam NFTs necessarily clutter the wallets but they are not dangerous to burn. Also, users need to carefully avoid their links as they can expose them to scams/phishing leading to major wallet exploits. The Phantom NFT burning is an easy walk to clean up the wallets. Phantom added:

Our full-time globally distributed team has built and maintained an extensive open-source blocklist of scam and phishing NFTs that automatically stops them from getting to the wallet. We are also collaborating with @blowfishxyz to introduce a more advanced phishing warning system today.

Phantom said that they will issue a warning anytime spam NFTs trick users into a misleading site. Besides NFT burning, Phantom is also working on bringing automated spam detection features in the future. “Using providers like SimpleHash and our own internal reporting, we will be able to gauge if an NFT is likely to be spam,” it said.


Credit: Source link

ShareTweetSendPinShare
Previous Post

ShibaFest to Take Over Michigan

Next Post

VC Shima Capital to Launch $200m Shima Capital Fund I for Web 3 Industry

Related Posts

Testifying at U.S. House hearing

Testifying at U.S. House hearing

June 9, 2023

Polygon Labs veterans were part of a hearing with the US Congress’s Committee. The importance of blockchain and the role...

Ankr launches Enterprise RPC and AppChain Solutions on Azure Marketplace

Ankr launches Enterprise RPC and AppChain Solutions on Azure Marketplace

June 9, 2023

Ankr has announced the release of its Enterprise RPC Service and AppChain Solutions on Microsoft’s Azure Marketplace. The announcement expands...

Ripple Case Critical Amid SEC Crackdown on Coinbase & Binance, Say Attorneys

Ripple Case Critical Amid SEC Crackdown on Coinbase & Binance, Say Attorneys

June 9, 2023

The post Ripple Case Critical Amid SEC Crackdown on Coinbase & Binance, Say Attorneys appeared first on Coinpedia Fintech News...

CBA Restricts Payments to ‘Certain’ Crypto Exchanges

CBA Restricts Payments to ‘Certain’ Crypto Exchanges

June 9, 2023

Australia’s Commonwealth Bank introduced new processes to help protect customers from scams associated with making payments to certain crypto exchanges....

Vechain’s Blockchain and Groundbreaking Nano-Materials Transform Technology Landscape

Vechain’s Blockchain and Groundbreaking Nano-Materials Transform Technology Landscape

June 9, 2023

Source: Den Rise Shutterstock VeChain has confirmed that it is working with market leaders in the nano-materials industry to bring...

Load More
Next Post
VC Shima Capital to Launch $200m Shima Capital Fund I for Web 3 Industry

VC Shima Capital to Launch $200m Shima Capital Fund I for Web 3 Industry

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

Solana CEO Explains ‘Fair’ Meme Coin Launch Amidst Rising Scams

Solana CEO Explains ‘Fair’ Meme Coin Launch Amidst Rising Scams

May 16, 2023
Blow For Metaverse, SEC Classifies SAND And MANA As Securities

Blow For Metaverse, SEC Classifies SAND And MANA As Securities

June 6, 2023
Nike and EA SPORTS: A New Chapter in Virtual Sports

Nike and EA SPORTS: A New Chapter in Virtual Sports

June 1, 2023

About Us

Wonga News is an online news portal that aims to provide the latest crypto news, blockchain, regulations, and much more stuff like that around the world. We promise to share only high quality content from the world's best crypto sources. Feel free to get in touch with us!

What’s New Here!

  • Testifying at U.S. House hearing
  • Binance.US to Halt Fiat Withdrawals As Early As June 13
  • Indian Central Bank Aims To Reach 1 Million CBDC

Newsletter

Loading
  • Contact Us
  • Affiliate Disclosure
  • Privacy Policy
  • Terms of Use
  • DMCA

© 2022 WongaNews.com - All Rights Reserved!

No Result
View All Result
  • Live Prices
  • Crypto News
  • Bitcoin
  • Altcoins
  • NFT News
  • Blockchain
  • Regulations
  • Trading

© 2022 - WongaNews.com - All Rights Reserved!

  • bitcoinBitcoin(BTC)$26,564.00-0.34%
  • ethereumEthereum(ETH)$1,844.26-0.80%
  • USDEXUSDEX(USDEX)$1.07-0.47%
  • tetherTether(USDT)$1.00-0.11%
  • binancecoinBNB(BNB)$261.66-1.72%
  • usd-coinUSD Coin(USDC)$1.00-0.02%
  • rippleXRP(XRP)$0.531.47%
  • staked-etherLido Staked Ether(STETH)$1,843.53-0.78%
  • cardanoCardano(ADA)$0.316084-4.42%
  • dogecoinDogecoin(DOGE)$0.0696461.86%
  • solanaSolana(SOL)$18.84-0.67%
  • matic-networkPolygon(MATIC)$0.77-1.61%
  • tronTRON(TRX)$0.0782720.39%
  • litecoinLitecoin(LTC)$89.240.40%
  • polkadotPolkadot(DOT)$5.03-0.26%
  • avalanche-2Avalanche(AVAX)$14.110.41%
  • binance-usdBinance USD(BUSD)$1.00-0.11%
  • shiba-inuShiba Inu(SHIB)$0.000008-0.56%
  • daiDai(DAI)$1.00-0.29%
  • wrapped-bitcoinWrapped Bitcoin(WBTC)$26,557.00-0.30%
  • uniswapUniswap(UNI)$4.64-0.50%
  • leo-tokenLEO Token(LEO)$3.530.29%
  • chainlinkChainlink(LINK)$6.020.06%
  • cosmosCosmos Hub(ATOM)$9.35-2.52%
  • okbOKB(OKB)$45.040.69%
  • moneroMonero(XMR)$142.30-1.94%
  • ToncoinToncoin(TON)$1.690.96%
  • Aerarium FiAerarium Fi(AERA)$7.12-13.06%
  • ethereum-classicEthereum Classic(ETC)$17.070.12%
  • stellarStellar(XLM)$0.087693-0.19%
  • bitcoin-cashBitcoin Cash(BCH)$111.32-0.95%
  • true-usdTrueUSD(TUSD)$1.00-0.17%
  • lido-daoLido DAO(LDO)$2.21-0.88%
  • internet-computerInternet Computer(ICP)$4.312.27%
  • filecoinFilecoin(FIL)$4.10-1.49%
  • quant-networkQuant(QNT)$108.78-3.16%
  • AptosAptos(APT)$7.70-1.32%
  • hedera-hashgraphHedera(HBAR)$0.048737-0.05%
  • crypto-com-chainCronos(CRO)$0.058355-2.27%
  • ArbitrumArbitrum(ARB)$1.14-0.76%
  • GGTKNGGTKN(GGTKN)$0.1121310.76%
  • nearNEAR Protocol(NEAR)$1.42-0.25%
  • vechainVeChain(VET)$0.017373-3.02%
  • apecoinApeCoin(APE)$2.89-1.37%
  • the-graphThe Graph(GRT)$0.113215-1.57%
  • paxos-standardPax Dollar(USDP)$1.00-0.23%
  • BSCEXBSCEX(BSCX)$262.16414.81%
  • fraxFrax(FRAX)$1.000.00%
  • EdgecoinEdgecoin(EDGT)$1.00-0.03%
  • eosEOS(EOS)$0.900.41%