ERC-721 Variations

#web3-eli5

Even though there are basic standards in place, the code that governs these tokens is constantly evolving. Development teams are always looking for ways to customize the code to meet the unique demands of their project. Anything that increases utility or decreases computational cost draws attention. And the open nature of block-chains means that new ideas are quick to spread. These are some of the more popular, and sometimes controversial adaptations.

721(a)

  • Allows users to mint multiple NFTs in a batch transaction
  • Created by the developers of Azuki
  • Creates a HUGE gas savings

721(s)

  • Creates a mechanism to secure NFTs by locking them into a wallet
  • Keep NFTs in hot wallet for easy access, control lock from cold storage
  • Opens doors for NFT lending, buying on installments, NFT sharing

721(r)

  • Returnable NFTs
  • Reduces purchase risk
  • Makes Rug Pulls more difficult
  • Funds are locked until refund period ends
  • Critics claim it will not prevent “Pump and Dump” schemes
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