Dhive Docs
  • Welcome to Dhive
  • Dhive L1
  • Dhive EVM "CLI"
    • Client Configuration Guide
    • Using Dhive with Docker
    • Running a Single Node Local Network
  • Loyalty Program
    • Tokenization of loyalty Program
  • Redeemable NFTs
  • Onchain Reviews
  • Dhive Bridging
  • Dhive Amm
    • Overview
    • Get Started
    • Create A Wallet
    • Get DVI 20 Tokens
    • Token Swaps
  • Liquidity Pools
  • Add/Remove Liquidity
  • Contracts
  • Dhive rNFT Marketplace
    • Overveiw
  • Tokenize Your Business
  • List Product "rNFT"
  • Buy rNFT
  • Redeem rNFT
  • Cashback Mechanism
  • Contracts
  • Post A Reveiw
  • For Validators
    • Overview
    • Run a Validator
    • Configuration
    • Disk Usage Optimization
    • State Sync
    • Mempool
  • Tokenomics
    • Overview
    • DFuel Tokenomics
    • Dhive Validator Token Tokenomics
  • Others
    • Dhive Roadmap
Powered by GitBook
On this page

Was this helpful?

Redeemable NFTs

Redeemable NFTs are non-fungible tokens (NFTs) that can be exchanged for physical assets. When a user "redeems" the NFT, they receive the associated item, and the NFT may either be burned (destroyed) or staked.

How Redeemable NFTs Work

  1. Minting – The NFT is created and tied to a specific redeemable physical product.

  2. Ownership – The NFT can be bought, sold, or traded like any other NFT.

  3. Redemption – The owner can claim the associated asset, which may trigger one of the following actions:

    • Burning/Staking – The NFT is destroyed or staked after redemption.

    • Transformation – The NFT changes into another form after being redeemed.

    • Retained Ownership – The NFT remains but is marked as "redeemed."

Why Are Redeemable NFTs Valuable?

  • Proof of Authenticity – Helps verify ownership of exclusive or luxury items.

  • Scarcity & Exclusivity – Many are limited-edition, making them more desirable.

  • Utility Beyond Collectibility – Unlike standard NFTs, they provide real-world value.

PreviousTokenization of loyalty ProgramNextOnchain Reviews

Last updated 3 months ago

Was this helpful?