It's ALL Tokens - Part 4 - ERC-721 Variations

#newsletter

Welcome to Issue #7!

We brought one more weary traveler in from the cold of the Crypto Winter this week.

Some of you shared last week’s newsletter. Thank you for that. It made a noticeable difference in traffic to the blog.


This is Part 4 in a multi-part series on different types of tokens and how they can be used.

You can read the other entries in the series here:

This week we’re taking a look at a few popular ERC-721 variations.

ERC-721 Variations

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

Getting Meta

Subscriber Count: 62

Total Alpha Claims: 17


Instead of reading and writing about crypto, I spent most of this week in the woods at Cub Scout Camp. So there’s not much Alpha this week. But I did mange to put a few thoughts down on a new token standard.

Thank you for reading!

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