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The introduction of the ERC-404 token standard marks a significant evolution in the Ethereum blockchain ecosystem. This new experimental standard merges the characteristics of ERC-721 (non-fungible tokens) and ERC-20 (fungible tokens), paving the way for the creation of fractionalized NFTs. With ERC-404 tokens, users can enjoy the flexibility of swapping them like traditional tokens on platforms such as Uniswap, as well as listing them as NFTs on marketplaces like OpenSea. This hybrid approach is seen as a potential game-changer for NFT utility and investment, sparking a mix of excitement and skepticism within the crypto community. Projects like @FungifyNFT are already leveraging ERC-404 to explore new possibilities for NFT fungibility and uniqueness.
There's a new kid on the Ethereum block! ERC-404 is an all new token standard which combines NFT and fungible token qualities. What is it exactly and what could it mean for crypto? All covered today! ๐๐ https://t.co/cPvITpvC2N
๐ Unlocking NFTs with ERC-721! ๐ #Ethereum's non-fungible token standard revolutionized digital assets, powering art, collectibles, and gaming. ๐จ ๐ฎ Originally inspired by @CryptoKitties, ERC-721 opened doors for unique, blockchain-based assets.
Before @FungifyNFT, a lot of projects experimenting with 404s were NFT collections seeking to become more fungible. This is the first project leveraging our thinking to become more non-fungible, and a good example of how existing protocols can start aligning themselves with 404โฆ https://t.co/ITjVoXYTox
