Redeemer

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Redeemer

How to find the redeemer on a store, what does it show & why do we offer it?

What is a Redeemer?
What is a Redeemer you might ask? To redeem an NFT is to burn it, locking it and making it impossible for anything to happen to this NFT in the future. It is "destroyed" for further use - still exists on the blockchain though - you can't list it for sale, transfer it or multiply it. It's burnt. 
When you burn NFTs you free storage space on your smart contract for new tokens.
How to find the redeemer?
Every Store (Smart Contract) on mintbase.io comes with a redeemer function. When you are viewing a store you will see it like this:

In this case we are showing you the Mintickt store - a company building on top of the mintbase toolkit via mintbaseJS.
When clicking on the redeemer you will get confronted with this: 
You can see which NFT was burnt by whom at what time. It is a self-updating page (every 5 seconds) so displaying a screen at the entrance of an event is a perfect way for staff and customers to see how the mechanism works. 
For online classes for example it would be great to have a mechanism in place to control which wallets have been burning the tickets to the class prior to it happening and only letting those in. Great idea for the grants program ;)​
Why does Mintbase offer a redeemer?
Thinking about utility NFTs - like ticketing, sales of physical things, sales of services, sales of certificates - it is important that the given NFT is only used once.
Imagine entering a festival with an NFT-Ticket. Once you are inside, you could easily (especially on NEAR) send it out to someone in the line for them to go in with the same ticket. This is made impossible with the Redeeming mechanism.
When you are entering the festival you will burn your ticket - and it will show on the redeemer.
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Last modified 15d ago

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Contents

What is a Redeemer?

How to find the redeemer?

Why does Mintbase offer a redeemer?