Recently, OpenSea announced that it will release two Ethereum comment requests (ERC-7496 and ERC-7498) and two Seaport improvement proposals (SIP-14 and SIP-15) to drive the development of the redeemable ecosystem. Redeemable NFTs allow redemption to receive another on-chain or off-chain item.
OpenSea has released a public proof-of-concept to illustrate the experience, allowing to mint a Baby Burn egg on the OpenSea Drop page, then go to the redemption page to destroy the egg and exchange the egg for a Burnie.
After that, OpenSea will roll out on-chain redeemable support to all creators directly on OpenSea, and will also expand the on-chain redeemable standard to make it easier for creators to redeem items in their collections off-chain outside of OpenSea Experience chaining while still tracking the state of redemptions on-chain through traits or burns.