The Future Of NFTs: ERC-6551 And The End Of ERC-721 Limitations
As NFTs continue to evolve, it offers exciting possibilities for creators, collectors, and investors alike. This blog delves into the groundbreaking ERC-6551 standard and its role in introducing token-bound accounts to the Ethereum blockchain. Are you ready to witness NFTs go beyond static images, unlock new use cases, and enable seamless composability? Read on to explore the fascinating world of ERC-6551 and its ability to shape the future of NFTs. The Rise of ERC-721 In 2017, the Ethereum blockchain introduced the ERC-721 standard, transforming the world of NFTs and enabling the tokenization of digital assets. However, as NFTs evolved from static images to dynamic and interactive forms, the need for a more versatile standard arose. Enter ERC-6551, the Ethereum Improvement Proposal created by Future Primitive, which introduces the concept of token-bound accounts. Token-Bound Accounts Token-bound accounts (TBAs) are smart contract wallets that are owned by ERC-721 NFTs. These accounts