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Transfer ownersip and management rights for the ESDT

The manager of an ESDT token may transfer the management rights to another Account. After this transaction is processed by the Metachain, any subsequent management operations will only be permitted to the new Account. This operation requires that the option canChangeOwner is set to true.

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Please provide your token id

Please provide the address of a new owner

In the MultiversX ecosystem, the management of an ESDT token includes the ability for the token manager to transfer management rights to a different account. This transition of management rights is a crucial feature that allows for flexibility in token governance and ensures continuity in the management of the token's operations. For such a transfer to take place, the token must have the canChangeOwner property enabled. Once this property is set, and the transaction to transfer management rights is successfully processed by the Metachain, all future management operations must be performed by the new account holder, effectively changing the stewardship of the token.

This mechanism is vital for facilitating smooth transitions in token management, whether due to strategic shifts, organizational changes, or other reasons that might necessitate a change in token ownership. By enabling the canChangeOwner option, MultiversX provides token creators and managers with the necessary tools to ensure that token governance can adapt to new circumstances without disrupting the token's functionality or the broader ecosystem. This feature enhances the adaptability and security of managing digital assets on the blockchain, supporting a robust and flexible infrastructure for token administration.

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