What is ERC-1155 token?

The idea is simple and seeks to create a smart contract interface that can represent and control any number of fungible and non-fungible token types. In this way, the ERC-1155 token can do the same functions as an ERC-20 and ERC-721 token, and even both at the same time.

What is multi-token standard?

A standard interface for contracts that manage multiple token types. A single deployed contract may include any combination of fungible tokens, non-fungible tokens or other configurations (e.g. semi-fungible tokens). What is meant by Multi-Token Standard?

Is ERC 1155 fungible?

While ERC-20 tokens are fungible and ERC-721 tokens non-fungible, ERC-1155 is a multi token standard - the same token contract may include any combination of fungible tokens, non-fungible tokens or semi-fungible tokens. Fungible tokens work like currency. A $5 bill may be exchanged with another $5 bill without any difference in value.

What is a non fungible token?

Non-fungible tokens are unique and noninterchangeable, like a painting or book. Prior to ERC-1155, the two predominant token standards were ERC-20 for fungible tokens and ERC-721 for non-fungible tokens. They could not (and cannot) be wrapped into the same smart contract.