#30 - On Tech | Digital Art, NFTs & A New Frontier
February 17, 2021
On Today's Episode, we talk about NFTs or"Non-Fungible Tokens", Ethereum standards & the applications for creative artists.
My goal is to inform creators & curators alike about the emerging field of Digital Art within the Blockchain space, enabled by NFTs, Non-Fungible Tokens.
- Fungible - able to replace or be replaced by another identical item; mutually interchangeable.
- ERC Standard - ERC is an acronym that stands for Ethereum Request for Comments. ERCs are application-level standards for Ethereum and can include token standards, name registries, library/package formats, and more. Anyone can create an ERC, but it is the author’s responsibility to clearly explain their standard and foster support for it within the community. (Yahoo)
- ERC-20: This is the standard API used for fungible tokens, including transfer and balance tracking functionalities.
- ERC-223: This standard protects users from accidental contract transfers.
- ERC-721: This is the most popular non-fungible token (NFT) standard. While fungible tokens can be divided, non-fungible tokens can not. NFTs can be owned and transacted by individuals as well as consigned to third-parties. NFTs can represent ownership over digital or physical assets.
- ERC-809: This standard is used to rent rival non-fungible tokens. An NFT is described as ‘rival’ if its use/ownership by one individual prevents simultaneous use/ownership by other individuals. ERC-809 allows an owner to rent access to their rival NFTs using a standard set of commands, and users can view all past and current rental agreements from a single wallet interface.
- ERC-1238: This standard covers non-transferable tokens (or ‘badges’).
- ERC-1400: Partially-Fungible Tokens
Today's Resources & Links
It's Day 17 of "February Flowing" !
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| Mr. Wildenfree