This EIP proposes an extension to the ERC-721 standard for Non-Fungible Tokens (NFTs) to enable multi-redeemable NFTs. This extension would allow an NFT to be redeemed in multiple scenarios for either physical or digital objects and maintain a record of its redemption status on the blockchain.
ERC-5560 enables only one-time redemption of an NFT, which means the same NFT cannot be re-used for another redemption from different campaigns or events.
- Utilize the combination of
_redemptionIdas the key in the redemption flag key-value pairs where
_operatoris the operator wallet address,
tokenIdis the identifier of the token that has been redeemed, and
_redemptionIdis redemption identifier set by the operator.
- Additionally, to provide more granular information about a redemption,
redemptionskey-value pairs is added to the “ERC-721 Metadata Extension”. The key format for the redemptions key-value pairs MUST be standardized as
operator-tokenId-redemptionIdThe value of the key
operator-tokenId-redemptionIdis an object that contains the
descriptionof the redemption.
statuscan have a more granular level, rather than just being a flag with a
descriptioncan be used to provide more details about the redemption, such as information about the concert ticket, a detailed description of the action figures, and more.
- The redemption