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.