Non-Fungible Tokens (NFTs) are ubiquitous these days. From art and music to tacos and toilet paper, these digital assets are selling like exotic 17th-century Dutch tulips for millions of dollars.
NFT tokens are created using blockchain technology that cannot be easily edited, copied or duplicated. They can act as publicly verifiable proof of ownership in a decentralized database. NFTs are unique digital assets representing ownership of specific items, such as virtual concert tickets or rare art pieces.
ERC-404 introduces the concept of semi-fungible tokens. Developed by individuals known as "ctrl" and "Acme from Pandora Labs," this experimental token standard aims to combine the liquidity of ERC-20 with the uniqueness of ERC-721.