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I hate to dunk on this type of art while it's down but > Impact Theory agreed to destroy all Founder’s Keys in its possession or control What does this mean p
by mherdeg 3y ago
I hate to dunk on this type of art while it's down but
> Impact Theory agreed to destroy all Founder’s Keys in its possession or control
What does this mean practically -- like they delete the files that would allow them to transfer control of the NFT? What even are these things, are they just text files in a distributed file system that list the owner's name or what?
- bl4ckneon 3y agoThey would most likely "burn" them which means giving control, transferring ownership, of those NFTs to a wallet address that no one controls which means they are out of circulation. I assume they see using a standard NFT contract which doesn't have any way of taking control of those NFTs once ownership is to that burner address. It would be impossible.