Phantom, a wallet company with operations in Solana, has introduced a new burn feature that enables users to delete spam nonfungible tokens (NFTs)
The new function, which users can access through the Burn Token button in the Phantom wallet app, allows them to earn a tiny deposit of Solana (SOL) each time they utilize it, according to a blog post from the Phantom team published on Thursday.
The action is a part of a larger Phantom initiative to combat spam NFTs and undesirable actors in the market. By alerting users to “any fraudulent transactions that could endanger their assets or permissions” after clicking on dodgy links, the team claimed to be fighting scammers as well.
1/ Today, NFT burning is launching on Phantom across all devices! 🔥— Phantom (@phantom) August 17, 2022
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
Due of Solana’s cheap transaction fees, Phantom stated that the problem has been particularly pervasive there, with bad actors frequently airdropping large numbers of purportedly free NFTs that really include harmful links.
Spam NFT typically asks the recipient to click a link in order to generate a free NFT. However, if they finish the procedure, their wallet is emptied of its contents. Alternatively, the link will request the recipient’s seed phrase, which will have the same effect.
With more than 2 million monthly active users, Phantom is one of the most well-liked wallet providers for Solana-based NFTs and decentralized fiance (DeFi), according to the company.