Unchained

ERC-6551: Is This the Next Big Leap in NFT Innovation? - Ep. 514

Jul 4, 2023
Guest
Benny Giang
Guest
Jayden Windle
Benny Giang, Co-founder of Future Primitive, and Jayden Windle, its founding developer, dive into the groundbreaking ERC-6551 standard, which revolutionizes NFTs by associating them with smart contract wallets. They explore its potential in gaming, identity, and more, highlighting how this innovation can enhance digital interactions. The duo discusses the implications for creators and security, and the exciting idea of 'network playable characters' that could reshape online experiences. Discover how Future Primitive merges Web3 technology with culture, making NFTs even more interactive.
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INSIGHT

Dynamic NFTs

  • ERC-6551 allows NFTs to own other assets, solving the problem of static NFT characteristics.
  • This enables dynamic NFTs, like changing PFP outfits, without relying on centralized databases.
INSIGHT

NFT Wallets

  • Unlike other token standards, ERC-6551 assigns a smart contract wallet to each NFT.
  • This allows NFTs to own any asset type on-chain, breaking from previous standard limitations.
INSIGHT

Overcoming Limitations

  • Previous NFT ownership standards had limitations, like ERC-998 only supporting ERC-721 and ERC-20 tokens.
  • ERC-6551 overcomes these limitations, enabling NFTs to own any asset on-chain.
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