Summary
TLDR: The NFT sector is excited about ERC-404s, a new standard allowing the conversion between NFTs and fungible tokens. Pandora project popularized this concept, linking unique NFTs to fungible tokens. ERC-404 allows for semi-fungibility and fractional buying/selling. Despite success, standards are not recognized yet by Ethereum Foundation. EtherRock NFTs are also gaining attention, with one being auctioned at Sotheby’s for a high price. Other developments in the blockchain and telecom sectors are also noted.
Key Points
1. The ERC-404 standard allows for the conversion between NFTs and fungible tokens, merging uniqueness with liquidity.
2. The Pandora project popularized the ERC-404 standard by linking 10,000 NFTs to 10,000 PANDORA tokens on Ethereum’s ERC-20 standard.
3. The ERC-404 standard introduces semi-fungibility by allowing dynamic interaction between the fungible token and its non-fungible counterpart, enabling fractional buying and selling.