Non-Fungible Token Standards.
Hello, and welcome to another article!
Up to this point, we have learnt what NFTs are, why they have value and why people are willing to pay millions of dollars for them. We have also discussed the most expensive NFTs ever sold.
In this article, we will take a look at the NFT token standards, and how they differ from each other.
The first standard is:
ERC-721 was pioneered by CryptoKitties in the early days of the NFT. ERC721 was the first standard for representing non-fungible digital assets. ERC721 is an inheritable Solidity smart contract standard, meaning that developers can easily create new ERC721-compliant contracts by importing it from the OpenZeppelin library (we have a helpful tutorial on creating your first ERC721 contract here). ERC721 also provides a permissioned way to transfer these assets, using the transferFrom method.
Without going too much into technicalities, ERC-721 was the first iteration of NFT tech on display.
The next standard is:
ERC1155, pioneered by the Enjin team, brings the idea of semi-fungibility to the NFT world. With ERC1155, and unlike ERC-721, IDs represent not single assets but classes of assets. For example, an ID might represent “BEERS”, and a wallet could own 1,000 of these BEERS. In this case, the balanceOf method would return the number of swords owned by a wallet, and a user can transfer any number of these BEERS by calling transferFrom with the “BEERS” ID.
Non-Ethereum NFT standards
While Ethereum has been the key pivot to bringing about the revolution of the NFT, there are also some other standards appearing on other blockchain networks. For example, DGoods, pioneered by the Mythical Games team, has solely focused on providing a feature-rich cross-chain standard starting with the EOS network. In addition, the Cosmos project is also developing an NFT module that can be leveraged as part of the Cosmos SDK, another massive feat incorporating the NFT functionality into it.
All these standards, and more can be leveraged on the Uniqly.io platform! Easily create and auction your NFTs and join the revolution!
Uniqly — the first marketplace and escrow that allows you to create and trade NFT tokens with the possibility of materializing them in the real world.
Uniqly.io is a Marketplace and Escrow.
Marketplace — We allow our users to trade NFT tokens backed by real-world items. Anyone will be able to create their own unique landing page and list their products created in our generator, or deposited via escrow.
Escrow — We have created a solution that allows you to easily trade all physical products, even those that were not created in our Generator, including clothing, works of art, collectibles, and more.
Materialize and stake NFT tokens.
Materialize NFT — Uniqly.io brings you the possibility to materialize your favorite NFT tokens from outside of our ecosystems, such as Cryptopunks, Hashmasks, SuperRare, and many, many more!
Stake NFT — Some limited NFT collections will be available in exchange for freezing UNIQ tokens for an appropriate period of time, in cooperation with other projects we will create additional mining pools.
Generator and proof of ownership — On Uniqly.io you will be able to create a product, and then base it on an NFT token e.g. T-shirt, hoodie, mug, flip-flops, etc. (50+ products) with the possibility of claiming it, and signing it on Etherscan with your Full Name/Nickname on the burning transaction, and then we will materialize it, and add a QR code which will lead you to the burning transaction on Etherscan.