What Is ERC-404? The Experimental Standard Whose First Token Has Rocketed 12,000% in One Week
Summary
The new ERC-404 token standard has led to the creation of a multi-million sub-asset class in the crypto market. Pandora, the first ERC-404 token, saw a significant price increase and trading volume. Other projects have also launched their own ERC-404 tokens, with support from exchanges like OKX and Binance. ERC-404 combines ERC-20 and ERC-721 standards, allowing developers to create fractionalized NFT collections that can be freely traded. The standard aims to address the issue of friction in tokenizing NFTs and is currently an experimental and unaudited standard. The team is working on an Ethereum Improvement Proposal (EIP) to make it an officially recognized Ethereum token standard.
