This is possible:
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Check this post to find all content instances that use a specific component.
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There’s a helper method to transform all instances of a custom component in one content entry, in
@builder.io/utilspackage, https://github.com/BuilderIO/builder/tree/main/packages/utils#transformcomponents
Once transformed, you’ll get a new json of the content that you can use to send a POST to the write API