Why banish Cardano NFTs that failed to meet your investing expectations to a burn address and pay for it when you can take part in NFT recycling and earn some Monet as well as other partner tokens today!
As a partner of The Monet Society, Splash is on a mission to help collectors clean their wallets of unwanted NFTs and reward you with some cool, hard 'Monet' for your time.
Let's explore the benefits of recycling NFTs and show you how easy it is to get recycling today.
Looking at a wallet filled with impulsive NFT buys that won’t even fetch 5 ADA per NFT on JPG Store is akin to being the owner of a bank account filled with Zimbabwean dollars and no where to spend it.
In both these cases, it just doesn’t look good!
By recycling these NFTs you get to restore your otherwise “bluechip” filled wallet back to its former glory and remind yourself of the best investment decisions you made daily.
Yes, instead of parting with your ADA to burn your NFTs and send them into NFT purgatory, you can simply recycle them with The Art Bank and earn up to 2000 Monet tokens plus additional tokens listed on the recycling whiteboard according to the level of NFT quality you recycle.
Check out this special rating system that the team developed to give you an indication of how much you can earn:
Collectors that acquire and hold onto their Monet Tokens can participate in auctions of various collections hosted by The Art Bank. Use your Monet to pick up large recycled collections from the recycler, access new mints and airdrops.
Monet is really the circle of your NFT life!
Now that you know how awesome recycling NFTs can make your wallet and Monet balance look, let’s head on over to the recycler to start recycling some unwanted NFTs.
Head on over to Splash's NFT recycling tool and connect a wallet that is filled with NFTs you’d like to recycle.
Depending on the amount of NFTs in your wallet, it might take a few short moments to load them all up. When they're all loaded, select each of the NFTs you wish to recycle by clicking on them.
You’ll notice that the compensation you stand to get for this recycle will populate automatically depending on the amount and type of NFTs you wish to recycle. Each of the NFTs you select include a rating in the top left-hand corner.
At this point, you're also able to select/deselect which of the Cardano native tokens you'd like to be rewarded in and the total amount of compensation you will receive. Rarity Dawg holders receive a 50% booster on Monet compensation (per dawg) when recycling unwanted NFTs.
When you’re ready to move ahead, click on the ‘Recycle’ button to calculate the transaction fees.
On the next screen you’ll see two costs:
These are fees that go to Splash to process the recycling of the NFTs which costs far less than the minUTxO the recycler needs to spend if they were to send the NFTs to a burn address.
These are the Cardano network fees that are needed to transact.
If you’re using the recycler to clean up your wallet of a couple of NFTs at a time, what you get paid will more than likely cover both of these fees and then some.
With that explained, let’s start the recycling process by clicking on the ‘Confirm’ button.
You’ll be redirected to your wallet to enter your spending password. When you’ve signed the transaction, the recycling process will start and may take a couple of moments depending on the size of the transaction and if there is any blockchain congestion.
Once the recycling process is complete, you’ll have the option to ‘Show Transaction Details’ or ‘Recycle Again.’ Be sure to head on over to your now cleaner wallet to check your token list and your new token rewards.
That covers what you’ll need to start recycling NFTs with Splash and how to start earning some Monet and tokens from our partners today.
Happy NFT recycling!
