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You're reading from  The Essential Guide to Web3

Product typeBook
Published inNov 2023
PublisherPackt
ISBN-139781801813471
Edition1st Edition
Concepts
Blockchain
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Vijay Krishnan
Vijay Krishnan
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Vijay Krishnan

Vijay Krishnan, an experienced expert in blockchain and Web3, holds the position of head of SysOps for Linea, a Layer 2 blockchain at Consensys. With a rich background in blockchain, he's guided Fortune 100 companies from ideation to product build. With over 50 projects and 300+ use cases to his credit, Vijay has left an indelible mark on the industry. Prior to Consensys, he pioneered the AWS Partner Blockchain ecosystem and led IBM North America's Blockchain Practice. With two decades on Wall Street, he possesses deep financial and tech insights. Vijay, a leader and subject matter expert, empowers clients in DeFi, NFTs, gaming, and the metaverse. Beyond work, he's a mentor, speaker, author, and organic farmer. His knowledge and innovation continue to shape the blockchain and Web3 landscape.
Read more about Vijay Krishnan

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Introduction to NFT standards

There are several popular ERC standards for NFTs on the Ethereum blockchain, including ERC-721, ERC-1155, and ERC-998:

  • ERC-721 is the original NFT standard and is used for creating unique, one-of-a-kind tokens that cannot be exchanged for each other. Each ERC-721 token has a unique identifier, making it ideal for creating digital art, collectibles, and other unique assets.
  • ERC-1155 is a more versatile standard that allows for the creation of both fungible and non-fungible tokens within the same contract. This makes it ideal for creating games and other applications that require both types of tokens.
  • ERC-998 is a newer standard that allows for the creation of complex tokens that can contain other tokens. This makes it possible to create more complex assets, such as collections of ERC-721 tokens.

The key difference between NFT standards and fungible token standards (such as ERC-20) is that NFTs represent unique assets, while fungible...

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The Essential Guide to Web3
Published in: Nov 2023Publisher: PacktISBN-13: 9781801813471
© 2023 Packt Publishing Limited All Rights Reserved

Author (1)

author image
Vijay Krishnan

Vijay Krishnan, an experienced expert in blockchain and Web3, holds the position of head of SysOps for Linea, a Layer 2 blockchain at Consensys. With a rich background in blockchain, he's guided Fortune 100 companies from ideation to product build. With over 50 projects and 300+ use cases to his credit, Vijay has left an indelible mark on the industry. Prior to Consensys, he pioneered the AWS Partner Blockchain ecosystem and led IBM North America's Blockchain Practice. With two decades on Wall Street, he possesses deep financial and tech insights. Vijay, a leader and subject matter expert, empowers clients in DeFi, NFTs, gaming, and the metaverse. Beyond work, he's a mentor, speaker, author, and organic farmer. His knowledge and innovation continue to shape the blockchain and Web3 landscape.
Read more about Vijay Krishnan

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