Manifold Introduces Multiburn

Manifold Introduces Multiburn

Today, Manifold announced the introduction of Multiburn, which provides the ability to burn multiple NFTs to create a new, unique token.

The Deets

  • Burn multiple NFTs with any distinct combination of ERC-721s and ERC-1155s from ANY contract to create a new unique token.
  • Multi-token burns will also have a new adjusted mint fee for collectors of .00099 ETH per edition minted. Single-token burns will continue to have their same fee of .00069 ETH per mint.
  • Some of the unique mechanics that can be created with this feature include Artist Collaborations, Merging / Forging, Remixing, and 721 N-for-1 Burns.

What It Means

Previously, only a single token (ERC-721 or ERC-1155) could be burned to redeem a new NFT. With Multiburn, you can configure your redemption to require burning a set or multiple distinct tokens, regardless of the contract or specifications of the NFTs.

For creators: During configuration, you'll have the option to add additional burnable tokens on top of the previous ones you selected. The burn will require *all* tokens to be burned in order to redeem the new NFT. You're allowed to add as many burnable tokens as you wish.

For collectors: There's a slightly new flow for redemptions that require multiple tokens to be burned. You'll go through each step to select which token you want to burn, and then arrive at the final modal that shows everything you're burning and what you'll pay in fees.

❗ Why It Matters

The LuckyTrader team predicted on this week's NFT Roundtable that more burn-to-redeem mechanics would be featured going forward, and right on cue, Manifold has introduced a Multiburn feature that promises endless possibilities. Manifold's Multiburn feature offers creators more versatility to build new on-chain mechanics and engagements with their work.

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🔜 What’s Next?

There are multiple live Multiburns ongoing:

🧠 Learn More

 

Disclaimer: The author or members of the Lucky Trader staff may own NFTs discussed in this post. Furthermore, the information contained on this website or the Lucky Trader mobile application is not intended as, and shall not be understood or construed as financial advice. AI may have assisted in the creation of this content.