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Multiple NFT (ERC-1155) review
ERC-1155 enables you to issue many distinct NFT's within the same smart contract. This is very useful for related groups of NFT's, e.g. multiple editions or variations of the same art concept. Using ERC-1155 where applicable helps you reduce transaction costs (aka "gas fees") incurred by creating tokens when compared to using a separate ERC-721 for each token. With ERC-1155, you only have to submit the smart contract once instead of many times for each separate NFT!
Getting a little more technical, the Multiple NFT (ERC-1155) is a smart contract that can represent any number of non-fungible (and fungible!) token types within it. This Multi-Token Standard allows for each token to carry a unique ID which may have its own metadata, supply and other distinguishing attributes that make it unique.
Going deeper, this standard makes it possible for you to have an NFT with a balance greater than 1, but always with zero decimal places (aka "precision 0").
It also removes a lot of redundant code on the Ethereum blockchain and offers batch functionalities, which are efficiencies that help keep fees lower.
Last modified 1yr ago