Manifold’s New “Multiburn” NFT Destruction Mechanism: Turning Old NFTs Into Something New

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”

With the increasing popularity of NFTs, many platforms have been seeking ways to innovate and offer something different to users. Following this trend, the NFT foundry platform Manifold has recently announced the launch of a new NFT destruction mechanism called “Multiburn.” This mechanism will allow users to destroy multiple NFTs to create new and unique tokens.

What is Multiburn?

Multiburn is a new NFT destruction mechanism offered by Manifold. This mechanism enables users to destroy multiple NFTs to create new ones. With this feature, users can use any multiple NFTs from ERC-721 and ERC-1155 contracts. Multiburn also provides 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.

How Can Multiburn be Used?

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 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. After reaching the final mode, all the content being destroyed and the fees to be paid will be displayed.

Benefits

One of the benefits of Multiburn is its ability to turn old NFTs into new ones. This mechanism will allow users to create unique tokens out of the multiple NFTs they own. As a result, this feature can bring a new level of creativity and innovation to the NFT industry.
Additionally, the use of ERC-721 and ERC-1155 contracts can offer more flexibility and accessibility for users. ERC-721 tokens are usually used for unique assets, while ERC-1155 tokens can create multiple assets with the same contract address. Users can now use these two types of contracts interchangeably through this new feature.

Final Thoughts

The launch of Manifold’s Multiburn is yet another sign of the innovative solutions and creative strategies that the NFT industry is continually exploring. With the ability to turn old NFTs into something new, this mechanism can provide users with more value, creativity, and offerings.
While this feature is still at an early stage, its potential to redefine the NFT industry and open new opportunities is immense. Only time will tell how users and creators will use this new feature. However, one can expect that the future of the NFT industry will continue to be filled with groundbreaking and innovative solutions.

FAQs

1. Can I choose which NFTs to destroy using Multiburn?
Yes, you can select which NFTs you want to destroy to create a new NFT from the multiple NFTs you own.
2. Will Multiburn work with any ERC-721 or ERC-1155 token?
Yes, you can use any multiple NFTs from ERC-721 and ERC-1155 contracts using Multiburn.
3. Is there any additional cost when using Multiburn?
The cost of each casting is 0.00069 ETH, and the cost of single token destruction is also 0.00069 ETH. Additional destructible tokens may incur additional costs as well.