No NFTs are created equal.
In fact, they’re not all created in the same way.
Here, we’ll look at a few of the NFT-centric ERCs and EIPs you should know about.
They make these changes throughEthereum Improvement Proposals.
Ideas for new standards start out as “Ethereum Requests for Comment” or “ERCs.”
These go through a (usually) long and arduous public review, comment, and revision process.
The vast majority are never accepted and never become a part of the Ethereum web link.
NFTs technically worked on ERC-20, and the earliest NFTs were minted on ERC-20 before dedicated NFT standards arose.
But,ERC-20 didn’t optimize for NFTs.
After all, ERC-20 was meant for currency which is, by nature, fungible.
“ERC-1155opened the door to smart contracts involving both ERC-20 and ERC-721.
Ethereum Standards Expand the Uses for NFTs
You’ve heard of fungible tokens.
You’ve heard of non-fungible tokens.
Have you heard of “semi-fungible tokens?
That might sound like an ERC-20 token, but again, this EIP solves a specific problem.
Membership in a Decentralized Autonomous Organization is a prime example.DAOs worklike publicly traded companies.
This allows them to be identifiable, but it also allows them to be transferable.
That’s what ERC-3525 does.
But suppose that you want a token only to be usable once?
Like a ticket that allows the user a certain utility and then disappears?
Similarly,ERC-4907allows a person to “rent” NFTs for a predetermined timeframe.
ERC-4906is also to do with NFTs, but it’s comparatively boring.
The standard just made it easier to track edits to an NFT’s metadata.
