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faXx
@faxx
ERC-404 coins are trading hot, but the token standard has not passed the Ethereum Improvement Proposal (EIP) process. ERC-404 creatively mixes elements from the ERC-20 and ERC-721 standards, which are traditionally not designed to interact. Here is some more information:
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faXx
@faxx
The core innovation of ERC-404 "dual fungibility". ERC-721 tokens (NFTs) can be mapped to ERC-20 (fungible tokens) allowing for fractionalization of the token. When the fractionalized tokens are combined they can be used to mint a new ERC-721.
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faXx
@faxx
so to put simply you can burn a NFT to create meme coins, that can be later combined to mint a new NFT from the collection. Best of both worlds? Maybe Sounds pretty cool to me. I will be watching. Be careful trading “unofficial” token standards.
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