GLHFers NFT Burn Reaches 15% Supply as 500+ NFTs Destroyed
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GLHFers founder 0xdith announced today that another 100 GLHFers NFTs have been burned, bringing the total burned supply to approximately 15% of the collection.
That represents over 500 NFTs destroyed so far, with 100 auctions still remaining in the burn mechanism. The update was shared by 0xdith, founder of Gigaverse and GLHFers, two of the most prominent gaming projects on the Abstract blockchain.
Context on the Burn Mechanism
The GLHFers collection employs a deflationary model where NFTs can be burned through auctions, permanently removing them from circulation. With 15% of the supply already burned and a significant number of auctions left, the terminal supply remains uncertain.
0xdith, a former Stripe employee and Head of Business Development at Proof of Play (Pirate Nation), has become a respected figure in crypto gaming. Gigaverse has attracted over 75,000 players and generated more than 10 million in marketplace volume on Abstract.
What's Next
The burn rate and remaining auctions suggest the collection's supply could decrease further, potentially impacting scarcity dynamics. 0xdith has hinted at upcoming developments for Gigaverse, including a new game called Gigling Racing.
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