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    • Tokenization of loyalty Program
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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.

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Last updated 1 month ago

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