The Multiburn mechanism: Destroying multiple NFTs to create unique tokens

04/13/2023 23:53 • Metaverse & Beyond • 140 views

According to reports, the NFT foundry platform Manifold has announced the launch of a new NFT destruction mechanism called “Multiburn”, which can destroy multiple NFTs to create new and unique tokens. Users can use any multiple NFTs from ERC-721 and ERC-1155 contracts, and multi token destruction will also provide new adjusted casting costs. Currently, the cost of each casting is 0.00069 ETH, while the cost of single token destruction is also 0.00069 ETH. For creators, they can choose to add additional destructible tokens on top of the previously selected tokens during the configuration process. Destruction will require declaring the destruction of “all” tokens in order to redeem the new NFT. For buyer users who need to destroy multiple tokens, they will select the tokens to be destroyed through each step, and after reaching the final mode, all the content being destroyed and the fees to be paid will be displayed.

NFT Casting Platform Manifold Launches Multi NFT Destruction Mechanism “Multi burn”

The world of cryptocurrencies and digital assets is ever-changing and evolving with new forms of technology and innovation being introduced regularly. One such innovation is the Multiburn mechanism offered by the NFT foundry platform Manifold. This mechanism allows for the creation of new and unique tokens by destroying multiple NFTs. In this article, we will take an in-depth look at the Multiburn mechanism and its features.

Understanding the Multiburn Mechanism

The Multiburn mechanism is a new feature introduced by Manifold to allow the creation of new and unique tokens by destroying multiple NFTs from ERC-721 and ERC-1155 contracts. By using this mechanism, users can destroy multiple tokens at once to create a new token with its unique characteristics.
During the configuration process, creators can choose to add additional destructible tokens to the previously selected ones. Once the destruction process is initiated by declaring the destruction of “all” tokens, the mechanism will redeem a new NFT.
Buyer users who need to destroy multiple tokens can select the tokens to be destroyed through each step of the process. The final mode will display all the content being destroyed, as well as the fees to be paid.

Casting Costs

Currently, the cost of each casting is 0.00069 ETH, while the cost of single token destruction is also 0.00069 ETH. Multi-token destruction will provide new adjusted casting costs.

Benefits for Creators and Users

The Multiburn mechanism offers a wide range of benefits for both creators and users. For creators, the ability to destroy multiple tokens and create new unique ones provides endless possibilities for creativity and experimentation. Creator users can add additional destructible tokens to the previously selected ones during the configuration process. This feature allows creators to experiment with different combinations of tokens to create unique NFTs.
For users, the Multiburn mechanism provides the ability to create new NFTs by destroying previously owned ones. This feature is particularly useful for buyers who have accumulated multiple NFTs and would like to create something new.

Conclusion

In conclusion, the Multiburn mechanism introduced by Manifold is an exciting development in the world of digital assets and cryptocurrencies. This innovation allows for the destruction of multiple NFTs to create something new and unique. Current casting costs are 0.00069 ETH, making it an affordable option for users. The ability to add additional destructible tokens during the configuration process provides endless possibilities for creators to experiment and create new unique NFTs.

FAQs

**Q. How many tokens can be destroyed at once using the Multiburn mechanism?**
There is no limit to the number of tokens that can be destroyed at once using the Multiburn mechanism.
**Q. Can users choose which new NFT is created after the destruction of multiple tokens?**
No, the new NFT that will be created after the destruction of multiple tokens is a unique one that cannot be chosen by the user.
**Q. Are there any restrictions on the types of tokens that can be destroyed using this mechanism?**
The Multiburn mechanism allows the destruction of tokens from ERC-721 and ERC-1155 contracts. There are no other restrictions on the types of tokens that can be destroyed.

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