Getting Started

What is a redeemable NFT?

A redeemable NFT is a type of non-fungible token that represents ownership of a virtual or physical item. By adding the extension to an NFT’s smart contract, developers made it possible to validate an NFT’s redeemability.

Multisig Approach

1. Create a New Draft Collection from MINT portal.
2. Update Draft Collection by enabling Redeemables and Providing New collection Name, new collection symbol & Token holding Address. After redeemables enabled can not be changed.
3. After Redeemable Enabled in Collection it will be displayed as Redeemable Collection in View Page. The below Steps involved in Deploying Redeemable Collection.
   1. First Deploy Base Contract. After Base Contract Deployed select Redeem Contract Deploy.
   2. Set Approval for existing collection to redeemable contract address.
   3. New collection will be created and an automatically deploy process will be triggered.
   4. After a new collection base contract is created, an add admin process will be triggered for the new collection address.
   5. Register extension contract deployment will be triggered for a redeemable contract address .
   6. Then the Create redeem process will be triggered.

Onchain Approch

1. RedeemToken Function used to Redeem the Token from Redeemable Contract
2. CheckRedeemStatus Function used to Check the staus of Initiatted RedeemToken Process.