ERC 1155

What are ERC-1155 tokens?

ERC-1155 tokens were developed by Enjin.
It is a way of creating both fungible (currencies) and non-fungible
- i.e. digital cards, pets and in-game skins assets.
They can be used to represent assets or items across Enjin’s ecosystem of blockchain games.
- So one asset can be used in multiple games.
The ERC-721 standard’s token ID is a single non-fungible index and the group of these non-fungibles is deployed as a single contract with settings for the entire collection.
In contrast, the ERC-1155 Multi Token Standard allows for each token ID to represent a new configurable token type, which may have its own metadata, supply and other attributes.

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ERC-1155 is a digital token standard created by Enjin that can used to create both fungible (currencies) and non-fungible (digital cards, pets and in-game skins) assets on the Ethereum Network.
By using the Ethereum network, ERC-1155 tokens are secure, tradable and immune to hacking.
To find out more about the specifications of the ERC-1155 standard, check out EIP 1155.
ERC-1155 a new way of creating tokens that allow for more efficient trades and bundling of transactions – thus saving costs.
This token standard allows for the creation of both utility tokens (such as $BNB or $BAT) and also Non-Fungible Tokens like CryptoKitties.
For more information about the creators of ERC-1155, check out our Enjin Coin Guide.
ERC-1155 includes optimizations that allow for more efficient and safer transactions. Transactions could be bundled together – thus reducing the cost of transferring tokens.
ERC-1155 builds on previous work such as ERC-20 (utility tokens) and ERC-721 (rare one-time collectibles).

Last updated 1 year ago