Welcome to Magic Eden's Help Centre! In this article, we'll guide you through the process of burning unwanted Solana-based NFTs directly within the Phantom wallet. Burning an NFT will not only remove it from your wallet but also allow you to reclaim the SOL that was being held in the token account. However, please note that this feature is not available for ETH/Polygon NFTs.
What is Burning an NFT?
Burning an NFT means permanently destroying the token and removing it from your wallet. This process is irreversible, so it's essential to be absolutely sure that you want to burn the NFT before proceeding.
How to Burn an NFT:
Open your Phantom wallet and locate the unwanted NFT you wish to burn.
Click on the NFT to open its details, then click on the three dots located in the top right corner of the screen.
From the dropdown menu, select "Burn Token."
A confirmation screen will appear. Double-check that you have selected the correct NFT for burning.
To proceed with the burn, check the box confirming that "this cannot be undone."
Finally, click the red "Burn" button to complete the process.
Reclaimed SOL from burning
The SOL reclaimed from burning an NFT comes from the closure of the token account on the Solana network. When you burn a token, you effectively close its associated account, and any SOL held in that account becomes available for reclamation.
How much SOL can you reclaim?
The amount of SOL you can reclaim from burning an NFT varies depending on certain factors:
Most NFTs and tokens will give you 0.002 SOL upon burning.
Certain NFTs, such as scam tokens, will also only return 0.002 SOL.
Compressed NFTs, unfortunately, cannot reclaim any SOL as their metadata and token accounts are indexed off-chain and not stored on-chain.
Why some NFTs only give 0.002 SOL?
To reclaim 0.01 SOL from an NFT, the NFT's metadata account needs to be burned. However, some NFTs, like scam tokens, share this metadata for several different tokens, making it impossible to burn the metadata account. Consequently, these NFTs can only return 0.002 SOL upon burning.
Burning unwanted NFTs can help you declutter your wallet and potentially reclaim some SOL. However, always exercise caution and ensure you are ready to permanently part with the NFT, as this action cannot be undone. If you have any further questions or encounter any issues, feel free to reach out to Magic Eden's support team for assistance. Happy burning!