What is ERC-1155 NFT?

ERC-1155 has emerged as a gold standard for creating NFTs; every major marketplace lists new tokens as an ERC-1155 standard. In this guide, we will learn about the ERC-1155 token standard and how to create an ERC-1155 NFT Bundle Collection. What is ERC-1155?

What is the ERC 1155 token standard?

The ERC-1155 token standard provides a way to make one smart contract govern almost an unlimited number of tokens — technically, 2²⁵⁶ token types with up to 2²⁵⁶ copies of each. Additionally, each token is semi-fungible. Unlike ERC-721 non-fungible tokens (NFTs), which can only be owned by one address each, semi-fungible means:

What are ERC20 & erc721 (NFT) token standards?

Knowledge of ERC20 and ERC721 (NFT) token standards. What is ERC1155? ERC1155 is a multi-token standard that allows the creation of fungible, non-fungible, and semi-fungible tokens all in one contract. Before ERC1155, if a use case needed both ERC20 (fungible) and ERC721 (non-fungible) tokens, then separate contracts were required to achieve this.

What is the difference between ERC 721 and ERC 1155?

On the other hand, ERC-721 tokens standard only produces non-fungible tokens, which means that developers need to deploy a new smart contract for each new token. Developers will use the ERC-1155 token standard to deploy a single smart contract and then mint new tokens in seconds.