NFTb Initiates Governance Voting, Token Supply Burn is the First Vote

What is NFTb?

NFTb is setting up several key proposals for community input on the future of its token. The first vote is token supply burn.

 

NFTb is an NFT exchange protocol built on the BNB Chain network. The platform can be accessed anywhere around the globe and is rumored to have partnered with hundreds of graphic designers. The main focus of the project is to provide a powerful and easy-to-use platform for content creators to use while at the same time creating an affordable experience for NFT collectors by leveraging the power of BNB Chain.

 

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NFTb Governance Vote on Token Supply Burn 

NFTb has launched the first governance voting on its platform. The NFT marketplace on BNB Chain has launched the first vote on January 2, allowing the community to choose how much of the $NFTb the protocol will burn.

 

The vote will run for two weeks until January 16. Community members of all different types can vote however votes are allocated according to NFTb membership level. The burn has been announced to occur at the end of the month, January 31.

 

The community can choose between three different burn levels: 5%, 15%, and 25%. So far, “25%” is leading after just over 1,000 votes in the first few hours of voting.

 

The $NFTb token is down 98% off its all-time high, trading at $0.00749592, according to CoinGecko. The project has a total supply of 977,700,000, but only 117,527,466 is circulating, according to CoinGecko’s data. As a nanocap token with under $1 million in TVL, a 25% burn could very well impact the token price.

 

NFTb also has two other governance proposals pending in its queue. Neither has an expected voting timeline, but each has simple questions for the community: 1) should they do the token burn monthly? 2) should NFTb list its token on a major CEX in 2023?

 

Each question will have significant impacts on the development of the NFTb token. It’s safe to say the project is looking for momentum from the community to move forward to 2023.

 

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