NFT Burning on STRMNFT: Giving Users Greater Control Over Their Assets
As part of our ongoing commitment to providing greater control to users over their assets, we’re pleased to introduce the NFT burning on STRMNFT. With this new feature, users will have more options to manage and control their own NFTs.
To give everyone a chance to manage their NFTs that need to be burned, we made the burning feature free of any service or gas fees for the time being. However, this will change at a later stage based on the development phase of the platform.
How Does NFT Burning Work on STRMNFT?
Burning an NFT on STRMNFT involves transferring the token to a specific burn address on Stream Chain 1.0.
All NFTs sent to the burn address cannot be sold or accessed by anyone. Burned NFTs on STRMNFT are available for viewing only and have no owner.
Users can burn any NFT as long as they own it, whether created by the user or bought from another creator. In addition, users can decide to burn specific NFT editions and keep the others.
It should be noted that burning an NFT is a blockchain transaction, which makes it irreversible. Users should make sure that they want to burn their NFTs before proceeding.
How To Burn NFTs on STRMNFT?
Follow these steps to learn how to burn NFTs on STRMNFT:
- Sign in to STRMNFT.
2. Click on your profile icon and go to My NFTs.
3. The Burn option is located based on the state of your NFT:
- Minted: Click on the three-dot button.
- Listed or owned: Go to the Owned section and click on the three-dot button.
4. After clicking on Burn, you’ll see the following:
- Edition: The owned editions of the NFT.
- Unique ID: The token ID for the NFT.
- Action: Where you can choose to burn.
5. Find the edition you want to burn and click Burn.
6. Check the tickmark box and click Yes.
Note: Burning an NFT that has already been listed will not be removed from its respective collection or from the marketplace. Minted NFTs that have been burned will not be available in their respective collection but will be visible to anyone.
After the burn is completed, you can find all the details on the Transaction History page.
If you have any questions, you can reach out to us in the STRMNFT Global community on Telegram.
