What Are the Token Standards for NFT?
The well-known ERC-20 protocol is an earlier token standard in the Ethereum blockchain, and it is the protocol standard for fungible tokens. Up to now, most of the non-fungible tokens(NFT) are issued on the Ethereum blockchain, the mainstream standards are: ERC-721: This is the earliest standard for NFT, each token required a separate smart contract ERC-1155: It was pioneered by the team of Enjin Company and proposed a semi-fungible scheme for NFT. ERC-1155 allows for more efficient trades and bundling of transactions – thus saving costs. Such contracts can contain both fungible and non-fungible tokens. ERC-998: It is also called composable non-fungible tokens standard. ERC-998 is an extension of the ERC-721. It is composable that allows people to combine a group of ERC-20 tokens or ERC-721 tokens or even both. For example, in a block game, ownership of a game character represents one NFT, while ownership of character equipment represents another NFT. ERC-998 allows users to combi