Spotlight
Blockchain protocol launches verifier nodes to improve data security and decentralization.
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ERC-721 News
ERC-721 is a standard developed specifically for nonfungible tokens (NFTs) and was first proposed as an Ethereum Improvement Proposal (EIP) by William Entriken, Dieter Shirley, Jacob Evan, and Nastassia Sachs in January 2018. Keeping in mind that NFTs may have an intrinsic value (a measure of what an asset is worth) attributed to their age, rarity or the visual they represent, the ERC-721 standard provides functionalities such as transferring a token from one account to another, retrieving the token balance, extracting ownership details, and even returning the total token supply available on a network.
Since every NFT is unique, the ERC-721 standard is more complex than the ERC-20 standard developed for crypto tokens and provides several extensions that can be split among a number of smart contracts. In order to maintain transaction records of NFTs on the Ethereum network, smart contracts implementing the ERC-721 standard are deployed, and different NFT-focused platforms may also offer additional events in order to implement a custom application programming interface (API) for NFTs.
- Explained
ERC-404 uses a mint-and-burn protocol to enable fractional ownership of NFTs, add more liquidity to the ecosystem, and open up a plethora of new use cases.
- Newsletter
NFTs launched by Hong Kong celebrity Stephen Chow recorded $23 million in trading volume, while a whisky distributor is using NFTs to sell a rare collection.
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A crypto user spent $113,000 in gas in an apparent attempt to snipe the launch of a new ERC-404 token, which pumped and dumped to zero just 35 minutes later.
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Gas fees on the Ethereum network reached levels not seen since March 2023 as traders rushed to capitalize on the early stages of the ERC-404 trend.
10863 - Interview
From being an inventory system for gaming to being used in DAOs, Future Primitive’s Jayden Windle and Benny Giang spoke about use cases for ERC-6551.
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The BRC-721E token standard was launched by the Ordinals market and the Bitcoin Miladys NFT collection, allowing traders to transfer their ERC-721 NFTs to Ordinals.
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“You would be able to eg. send an NFT to vitalik.eth without anyone except me (the new owner) being able to see who the new owner is,” said the Ethereum co-founder.
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Nansen has registered over 130 million addresses and has grown 30% despite the crypto downturn in 2022.
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Over 1 million unique wallet addresses were involved in the minting process, signaling that nonfungible token market activity remained strong.
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With the use of blockchain explorer or by retrieving it from the smart contracts that manage them, you may locate the metadata for your NFTs.
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Nickelodeon’s sell-out NFT drop has surged to second place on OpenSea’s 24-hour sales volume chart, and former Simpson’s animator Erick Tran is working on an animated NFT series.
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Security auditing is set to be tokenized by ConsenSys Diligence as TURN tokens are unveiled — creating an open market for the in-demand service.
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