ERC404 Token Standard
ERC404 gives the ability for millions of people to own and share a single NFT, due to the fractualization of the token, its a mix of an ERC20 Token and an ERC721 NFT, it can be traded in an Exchange as a token or in an NFT marketplace like Elacity and Opensea.
Only 550 Dragons
That can be owned by Quintillion people
Elawings Mission
Elawings was born to fuel trends. We're the first ERC404 collection on Elastos, bridging communities and pushing boundaries. With only 550 rare NFTs, we offer exclusivity and a vibrant flock to join. More than just collectibles, Elawings are keys to unlock the ever-evolving potential of Elastos. We're surfing it with open wings, embracing all the new tech
FAQ
ERC-404 is an experimental token standard that was released on the Ethereum blockchain with the pandora project, that integrates the characteristics of both fungible and non-fungible tokens (NFTs). It allows for the fractional ownership of NFTs, enabling users to own, trade, or sell fractions of a digital asset, such as artwork, collectibles, or in-game items
ERC-404 functions by linking each issued token to a specific NFT. This means that instead of owning an entire NFT, multiple users can own portions of it through fungible tokens that represent a fraction of an NFT. This process is managed through smart contracts, which dictate the terms of ownership, transferability, and fractionalization of these assets. An example would be if a user owned 0.2 ERC404 Token, it means he owns 20% of a full one NFT and that means it does not get minted to him yet, however if he decided to buy an additional 0.8 NFT which will total his balance to 1 NFT, a full NFT will be minted to his wallet
ERC-404 addresses the liquidity issue in NFTs by enabling token-like trading of fractional NFTs on a dex exchange like Glide or Uniswap, broadening the market for NFT owners. It simplifies the process of fractionalization
Yes, with ERC-404, you can choose the exact NFT you wish to own. This is done through NFT Marketplaces like Elacity or opensea, using a marketplace you can choose to buy a specific ERC404 NFT offered by other owners. However if you buy the ERC404 on a dex then a random one will be minted to you, chosen by the smart contract
When you sell your ERC404 token, the linked NFT is automatically "burnt" . You cannot select a specific NFT to be burnt; the protocol handles this automatically. It is advisable if you have a specific ERC404 NFT that you would like to keep and don't want it to get involved with your ERC404 token Dex trading, send it to another wallet account of yours and don't trade it on a Dex
ERC-404 represents a significant step towards innovating token standards by combining the features of fungible and non-fungible tokens. It has the potential to transform how digital assets are owned, traded, and valued, making NFTs more liquid and accessible