Bigger Entertainment’s Burn Party will kick off on November 15. It promises contests with SHIB prizes, a follow party, and a live coin burn, funded by ticket sales.
At the time of writing, the sales will fund a $12,800 burn. This will take 235,000,000 SHIB out of circulation by sending it to a dead wallet.
SHIB Burn Party Targets 1 Billion Shiba Inu Burned
The Burn Party initially offered several tickets with different perks. Some of the extras - including a Shib Burn T-shirt, follow party, and phone call - are now sold out. Tickets range from $5 in price to $95.
Tickets are not available to purchase with SHIB, although this is understandable given the gas fees would cost more than some tickets. When the Shiboshi NFTs launched, high gas prices hit users with massive transaction fees - something the Shibarium Layer-2 could fix.
Steven Cooper, Bigger Entertainment’s Co-Owner, noted that by pooling money, the Shiba community can burn SHIB without large gas fees. “If most people tried to burn $5, their gas fees would be worth more than the burn itself,” he said. “This is a great way to cure that and to work together.”
Cooper also said they are in talks with companies to sell advertisements to fund additional SHIB to burn.
With a goal of 1 billion destroyed SHIB, Bigger Entertainment’s burn could take over $50,000 worth of Shiba Inu out of the circulating supply.
Bigger Entertainment has already burned115 million SHIB worth $6000, funded by royalties from its Shib Burner playlist.
However, not everyone is convinced by these community burns.
“No way I’m burning my SHIB,” commented one user on r/ShibArmy. “I’m here for the money. Not some sense of duty. If they want burns, then the devs can burn their wallets.”
“I’m all for a burn setup in CODE, not lemmings running off the cliff,” said another.
While the Burn Party could be among the largest individual Shiba Inu burns, destroying 1 billion SHIB still only represents 0.00018% of SHIB’s circulating supply. To destroy 25% of the circulating SHIB, the community would need to hold 137274 burns destroying 1 billion SHIB.