NFT Foundry Platform Manifold Launches “Multiburn” Mechanism to Create New Unique Tokens

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”

Have you ever thought about what happens to your NFTs once you lose interest in them? They just sit there in your digital wallet, taking up space, and losing their value. But now, the NFT foundry platform Manifold has come up with a solution to this problem. The platform has announced the launch of a new NFT destruction mechanism called “Multiburn,” which can destroy multiple NFTs to create new and unique tokens.

What is Multiburn Mechanism?

The Multiburn mechanism is a new feature offered by Manifold that allows users to destroy multiple NFTs to create a new and unique token. This mechanism can be used with any multiple NFTs from ERC-721 and ERC-1155 contracts, and it also provides new adjusted casting costs. Currently, the cost of each casting is 0.00069 ETH, which is the same for single token destruction as well.

How Does It Work?

The process of using the Multiburn mechanism is quite simple. When creators want to create a new token using the Multiburn mechanism, they can choose any multiple NFTs from ERC-721 and ERC-1155 contracts. They can also choose to add additional destructible tokens on top of the previously selected tokens during the configuration process. However, the destruction process 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 they want to destroy through each step. After reaching the final mode, all the content being destroyed and the fees to be paid will be displayed.

Benefits of Multiburn Mechanism

The Multiburn mechanism offers several benefits to both creators and buyers. For creators, they can use their older NFTs that have lost their value to create something new and unique. They can add additional destructible tokens on top of the previously selected tokens, which can potentially increase the value of their new NFT.
For buyers, they can now easily get rid of the NFTs they no longer want and use them to make something new. They don’t need to worry about the cost as the cost of each casting is the same as single token destruction, which is 0.00069 ETH.

Conclusion

The NFT foundry platform Manifold has come up with a unique solution to the problem of NFTs losing their value over time. The Multiburn mechanism allows users to destroy multiple NFTs to create a new and unique token. This mechanism is easy to use and offers several benefits to both creators and buyers. The cost of each casting is the same as single token destruction, which makes it an affordable solution for everyone.

FAQs

1. What is the cost of using the Multiburn mechanism?
– The cost of each casting is 0.00069 ETH, which is the same for single token destruction as well.
2. Can creators add additional destructible tokens on top of the previously selected tokens?
– Yes, creators can add additional destructible tokens on top of the previously selected tokens during the configuration process.
3. Do buyers need to pay any additional fees for using the Multiburn mechanism?
– Yes, buyers need to pay the same fee as single token destruction, which is 0.00069 ETH.