TestingCatalog is reporting on the latest features of trending apps in AI, web3 and web2


Zora marketplace got the "burn to redeem" feature for unique NFT experiences

· 1 min read
Zora marketplace got the "burn to redeem" feature for unique NFT experiences

In an exciting update to the NFT space, the Zora platform has introduced a new "burn to redeem" feature that enables creators to provide unique experiences and functionalities to existing tokens. Alongside this announcement, Zora also released the "Burn This" token, which can be burned and redeemed on their platform, allowing users to obtain a themed Zora orb "Flower Power" NFT by only paying the transaction fee and GAS.

How to Try "Burn to Redeem" Feature

  1. Visit the official Zora website.
  2. Mint "Burn This" token.
  3. Use the burn to redeem functionality to burn the "Burn This" token.
  4. Upon successful burning, receive a new themed Zora orb NFT.
  5. Bear in mind that you will need to cover the transaction fee and GAS for this process.

Benefits for Users and Creators

This innovative feature will be particularly useful for both NFT creators and collectors. Creators can use the "burn to redeem" functionality to offer unique experiences, access to new content, or unlock additional features for their NFTs. Collectors, on the other hand, can take advantage of this to participate in these exclusive experiences and potentially earn valuable, themed Zora orb NFTs by burning the "Burn This" token.

About Zora Platform

Zora is a decentralized platform that allows creators to tokenize and trade their work as NFTs. The platform enables artists, musicians, and other creators to mint, sell, and manage their creations in a decentralized manner, ensuring fair compensation and control over their intellectual property. The introduction of the "burn to redeem" feature and "Burn This" token reflects Zora's commitment to providing innovative new ways for creators and users to engage with NFTs and to enhance the overall user experience in the NFT market.

Source of the News

The announcement of the new feature and token release was made via a tweet from Zora's official Twitter account.