The present disclosure relates to multifunctional molecules, including molecules according to formula (I):([(B1)M-D-L1]Y—H1)O-G-(H2-[L2-E-(B2)K]W)P, (I)wherein G, H1, H2, D, E, B1, B2, M, K, L1, L2, O, P, Y, and W are defined herein. The present disclosure also relates to methods of preparing and using such multifunctional molecules to identify encoded molecules capable of binding target molecules.