In September a new smart contract standard was approved which will create powerful applications for Web3 in gaming + finance.
ERC3525 expands on ERC1155 and introduces semi-fungible tokens to unlock exciting new use cases for NFTs.
Here’s all you need to know about ERC3525. 🧵
ERC3525 expands on ERC1155 and introduces semi-fungible tokens to unlock exciting new use cases for NFTs.
Here’s all you need to know about ERC3525. 🧵
ERC3525 is a standard for semi-fungible tokens.
The contract is designed to combine elements of the ERC721 and ERC20 contracts to create assets which have unique properties (like an NFT) and identical properties, so they can be treated as fungible (like an ERC20 token.)
The contract is designed to combine elements of the ERC721 and ERC20 contracts to create assets which have unique properties (like an NFT) and identical properties, so they can be treated as fungible (like an ERC20 token.)
Consider two weapon NFTs.
The weapon ‘type’ could be the same for both - A sword.
But the colour of the sword is different. One red, and one blue.
ERC3525 standard allows the NFTs to be fungible because they share the ‘sword’ attribute despite being different colours.
The weapon ‘type’ could be the same for both - A sword.
But the colour of the sword is different. One red, and one blue.
ERC3525 standard allows the NFTs to be fungible because they share the ‘sword’ attribute despite being different colours.
You might be thinking "sounds similar to ERC1155?".
This is what distinguishes ERC3525 from ERC1155.
(Source: mirror.xyz/0x07599B7E947A…)
This is what distinguishes ERC3525 from ERC1155.
(Source: mirror.xyz/0x07599B7E947A…)
ERC3525 extends ERC721 and introduces three functions, <ID, SLOT, VALUE> to represent the semi-fungible nature.
SLOT = A key attribute. Two NFTs are fungible if they both share a SLOT.
ID = A unique attribute. What makes this NFT unique.
VALUE = The quantity of the token.
SLOT = A key attribute. Two NFTs are fungible if they both share a SLOT.
ID = A unique attribute. What makes this NFT unique.
VALUE = The quantity of the token.
Here’s how these functions appear in other popular contract standards.
ERC20 - Value
ERC721 - ID
ERC1155 - Value + ID
ERC3525 - Value + ID + SLOT
ERC20 - Value
ERC721 - ID
ERC1155 - Value + ID
ERC3525 - Value + ID + SLOT
ERC3525 is the first token standard where a token enjoys both the descriptive features of a non-fungible token (NFT) and the quantitative attributes of a fungible token (like an ERC20 token).
So what are the main use cases for ERC3525?
The standard was initially developed to further enable the financialization of NFTs.
ERC3525 can be used to create, allocate, and manage financial instruments, such as bonds, insurance policies, vesting plans and mortgages.
ERC3525 can be used to create, allocate, and manage financial instruments, such as bonds, insurance policies, vesting plans and mortgages.
There are also applications in Web3 gaming and the metaverse.
Games can allow players to easily swap and trade items which have the same underlying properties, but different superficial properties (such as appearance.)
Games can allow players to easily swap and trade items which have the same underlying properties, but different superficial properties (such as appearance.)
If you’d like to learn more about ERC3525, check out the official EIP from the @SolvProtocol team. 💫
eips.ethereum.org/EIPS/eip-3525
eips.ethereum.org/EIPS/eip-3525
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