Introduction to NFT standards
There are several popular ERC standards for NFTs on the Ethereum blockchain, including ERC-721, ERC-1155, and ERC-998:
- ERC-721 is the original NFT standard and is used for creating unique, one-of-a-kind tokens that cannot be exchanged for each other. Each ERC-721 token has a unique identifier, making it ideal for creating digital art, collectibles, and other unique assets.
- ERC-1155 is a more versatile standard that allows for the creation of both fungible and non-fungible tokens within the same contract. This makes it ideal for creating games and other applications that require both types of tokens.
- ERC-998 is a newer standard that allows for the creation of complex tokens that can contain other tokens. This makes it possible to create more complex assets, such as collections of ERC-721 tokens.
The key difference between NFT standards and fungible token standards (such as ERC-20) is that NFTs represent unique assets, while fungible...