Hacker News Reader

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?

View on HN

They 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.

Reply on news.ycombinator.com