Blockchain & Cryptocurrency Glossary

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Voucher NFT

1 min read
Pronunciation
[voh-cher en-eff-tee]
Analogy
Like a digital gift card token that you scan and invalidate when you use it at checkout.
Definition
A non-fungible token representing a redeemable voucher for goods, services, or experiences, often burned or marked when redeemed.
Key Points Intro
Voucher NFTs combine collectible uniqueness with redeemable utility.
Key Points

Redeemable: smart contract enforces one-time use and burn

Metadata: encodes voucher details such as expiry and benefits

Transferable: can be sold or gifted before redemption

Integration: often ties to off-chain point-of-sale systems

Example
An airline issues ERC-721 voucher NFTs redeemable for free lounge access; scanners verify ownership on-chain and mark the token as used.
Technical Deep Dive
Voucher contracts implement `redeem(uint256 tokenId)` that checks ownership, expiry timestamp, then burns or flags the token. Off-chain systems listen to `Redeem` events to unlock services. Metadata URI includes cryptographic proof of authenticity.
Security Warning
If redemption logic lacks proper ownership checks, attackers may claim vouchers illegitimately.
Caveat
On-chain redemption may incur gas fees and latency; hybrid on/off-chain designs can optimize UX.
Related Terms
Token Burn

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