Automatically burning inactive NFTs in a collection

NFT
1

Hey everyone! I’m a total newbie to the NFT world, but I’ve got this cool idea for a collection. I want to make it so each NFT has to be traded every six months. If it’s not sold within that time, it would automatically get burned.

Is there a way to set this up? Like, can the smart contract keep track of when an NFT was last sold and then destroy it if 180 days pass without a new sale? I’m not sure how to code this or if it’s even possible.

Here’s a basic pseudo-code of what I’m thinking:

contract AutoBurnNFT {
    uint256 constant BURN_TIMEOUT = 180 days;
    mapping(uint256 => uint256) lastSaleTime;

    function checkAndBurn(uint256 tokenId) public {
        if (block.timestamp - lastSaleTime[tokenId] > BURN_TIMEOUT) {
            burnToken(tokenId);
        }
    }

    function onSale(uint256 tokenId) internal {
        lastSaleTime[tokenId] = block.timestamp;
    }
}

Any help or pointers would be awesome! Thanks!

2

hmm interesting idea! :thinking: have u thought about how this might affect the perceived value of ur nfts? like, what if someone buys one as an investment but can’t find a buyer in time? maybe instead of burning, u could have them go into a ‘dormant’ state where they lose some perks until traded again? that way ppl don’t lose everything if the market’s slow

also, how would u handle situations where someone wants to keep their nft longterm? maybe add an option to ‘renew’ ownership every 6 months by paying a small fee or doing some kinda engagement activity?

just spitballing here, but i’m super curious to see how this develops! what inspired u to come up with this concept anyway?

3

i think its a fun idea, but ppl might worry bout being penalized. perhaps letting them refresh the timer w/ a quick ping could ease fears. mayb try add some allowance for minor delays?

4

While your concept is innovative, it raises some practical concerns. Automatically burning NFTs could deter collectors, especially those holding for long-term value. Consider the impact on market dynamics and user trust. A less drastic approach might be implementing a ‘dormancy fee’ or temporary deactivation instead of permanent destruction. This preserves asset value while still encouraging activity. Also, factor in network congestion and gas fees for frequent contract interactions. Ultimately, ensure your mechanism aligns with your collection’s overall goals and target audience expectations.