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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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Author (1)
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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Summary

In this chapter, we discussed several topics related to NFTs on the Ethereum network. First, we compared and contrasted several popular ERC standards for NFTs, including ERC-721, ERC-1155, ERC-998, and ERC-721x, outlining their key features, limitations, and potential use cases. We also discussed the emergence of new standards and technologies for rNFTs, which can provide a new revenue stream for creators and increase the functionality and accessibility of NFTs. Then, we explored a simple example of an ERC-721-based smart contract for creating and retrieving custom NFTs with specified names and metadata.

We also discussed the issue of gas prices on the Ethereum network, which can make it expensive and difficult to transact with NFTs during periods of high demand. We provided several examples of the impact of gas prices on NFT transactions and the NFT ecosystem as a whole. Our discussion highlighted the potential and challenges of NFTs on the Ethereum network, as well as...

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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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