Burn To Earn: What is The Secret Formula?

Burn To Earn: What is The Secret Formula?

You probably think I’m going to tell you to burn fat or get moving if you want to earn more, but no, not today.

The burning I’m talking about here doesn’t require any physical activity.
It’s all about clicking the right button at the right moment.

Burning an NFT means deleting it forever, and I’ll show you how this app helps you earn extra cash for doing so.
If you enjoy making money by clicking around all day, like I do, and you’re not ashamed of it, then this is for you!

What’s the best way to learn about MERN and Blockchain development? By building a real-world project, of course!
Over the past few months, I’ve been exploring the MERN and Blockchain development stacks. This is what happened…

Now, let me show you how I used Thirdweb services to build an NFT project that rewards users for burning their NFTs in a new and innovative way.

What is it?

The Wulirocks app is a blockchain-based online NFT card collection game that rewards you with $USDT.

Initially, players will be rewarded with $USDT, a widely recognized digital currency, allowing us to focus on building a solid foundation for our community.

In the future, we plan to transition to our own token, $WU, which can be converted. This approach will allow us to add a layer of speculation to the game, but we believe it’s essential to prioritize stability and reliability in our early stages.

As seen in the GIF above, all the NFTs in the collection will appear on the right side of the screen, regardless of whether you own them or not. This allows you to test different combinations and see the rewards associated with each one.

With this feature, you can experiment and strategize your way, buying and selling according to your needs, to become the best earner.

As the supply chain evolve, with new NFTs being minted regularly. More NFTs are created or burned, the individual value of each NFT will have a different weight in the reward calculation algorithm.

In the above example:

you own 0 NFT #27. The available supply for that NFT is 8.

you own 2 NFT #28. The available supply for that NFT is 11.

How Many Collectible NFT are there?

We will start with 275 NFTs or character parts available in this collection.

These NFTs are ERC1155 tokens, a standard for tokenization, which means that each design can exist multiple times.

For example, some head models exist in a single instance, while others have a supply of 10.

Ready to burn your 5 NFTs to earn a reward?

As you can see in the GIF below, simply press the claim button to initiate the burn process so fund can be transferred to your address.

The burn process is fully on-chain and performed by the Burn To Earn smart contract. This simple contract has been audited by Thirdweb and will be made public later on.

A smart contract is a program that lives on the blockchain and automatically perform transaction without the intervention of any human or middle man.

Please note that you’ll need to have all 5 required NFTs for the combo before attempting to burn them. If you’re missing any NFTs, the function won’t work.

Wulirocks DAPP recording. source: Author

Which Blockchain?

Currently the DAPP is running on the Sepolia Testnet, but we did not decided yet on which blockchain this would be finally deployed.

What are the critical factors?

Decent network: we want a blockchain with a decent network, as it should be reliable and able to handle a reasonable volume of transactions.

Not too congested: we want to avoid blockchains that are frequently congested, which can lead to slow transaction processing times and high fees.

Low fees: we are looking for a blockchain with low fees, which will make it more cost-effective for users.

That is it for now! If you’re new to crypto or have questions about the terms or ideas expressed here, feel free to reach out directly or leave a comment — it may benefit others with similar concerns.

Make sure to subscribe so you get notified of upcoming dates regarding the launch of the NFT collection and the app, as well as potential giveaways.

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