Imagine a class of NFTs that is subject to “decay” [e.g., burnt]. Let’s call it “t½NFT”. The rationale for this new class of NFTs is the imitation of the physical world in which objects such as books or coins erode over time and become more scarce.

In such a case there exists a probability function of time t:

in which the probability of a t½NFT to decay increases as time passes from the moment it is bought/sold. Every time it is bought or sold t is reset back to 0. 

t ⎯ denotes time from the last change of ownership.

λ ⎯ is the time decay constant.

Additionally the total number of owners will also affect the probability of decay [e.g., by increasing λ.

The t½NFTs are to be minted/published in sets with N being the number of t½NFTs in each minted set [it is possible to have N=1, or even N=0, however, this would seem to make this class superfluous]. 

A more detailed and technical paper on this will be published soon. It will include features that address supply and demand dynamics, impact of change of ownership, incentives that drive velocity and protections for loss of value [e.g., allocation of some of the funds from the first purchase as face-value compensation.]