Introducing ERC404
The ERC404 is the latest token standard within the Ethereum ecosystem, representing an evolution from the well-known ERC721. It is a smart contract designed for the creation, issuance, and management of non-fungible tokens (NFTs). Unlike its predecessor, ERC404 introduces additional functionalities and mechanisms allowing for more complex interactions between tokens and their holders, such as fractional ownership, advanced copyright features, and the ability to create more complex digital ecosystems.
The Benefits of ERC404
ERC404 paves the way for new possibilities in the digital art and collectibles space. It enables, for instance, the division of an artwork into smaller, fractional NFTs, democratizing investment in art and allowing multiple users to hold a piece of the original work. With the adoption of ERC404, creators can also implement intricate revenue models, like earning a percentage from secondary sales. This potential makes ERC404 a transformative force in the digital art market, making it more accessible and profitable.
Implementing ERC404 at uniDecentralArt
uniDecentralArt is adopting ERC404 as the foundation of its ecosystem. By integrating this standard, uniDecentralArt is committing to innovation in the digital art sector, offering creators and collectors tools for creating, buying, and selling NFTs in more integrated and flexible ways than ever before. The implementation of ERC404 will establish a new arena for artists and investors where both can benefit from a secure and transparent market.
uni.Decentral-ArtFuture with ERC404
Embracing ERC404 is more than just a step forward for uniDecentralArt; it’s a vision for a future where blockchain and NFTs converge to revolutionize perceptions of ownership and value in the digital world. ERC404 will enable uniDecentralArt to become a leader in digital art collecting, opening up new opportunities for artists and collectors worldwide.
Every word in this article is a step towards a future where art and technology coexist in harmony, creating new values and experiences for all market participants. With the implementation of ERC404, uniDecentralArt is not just following trends but actively participating in shaping the future of digital art.
From ERC721 to ERC404: uniDecentralArt Journey
Before ERC404 came into play, uniDecentralArt was pioneering with ERC721 contracts to create unique NFT collections. The platform made its mark in the market, enabling users to collect and trade digital art pieces. This 1.5-year journey with ERC721 contracts has provided invaluable experience and know-how, which we are now leveraging for even faster development.
This rich experience allows us to understand the nuances of the digital art market and quickly adapt to its evolving dynamics. Our transition from ERC721 to ERC404 is a testament to our commitment to staying at the forefront of innovation.
Customizing ERC404 / Fork on Github
In our pursuit of continuous development and customization, we’ve initiated a fork of ERC404, accessible on Github at https://github.com/uniDecentralArt. This fork will be tailored specifically for the uniDecentralArt platform, enabling better integration with our existing systems and delivering unique functionalities that our community desires.
Adapting ERC404 to our specific needs will introduce non-standard features such as special voting protocols for fractional NFT owners and advanced copyright management options. This customization will not only ease the user experience on our platform but also provide greater flexibility in creating and managing digital art collections.
Through this process, uniDecentralArt intends to maintain full transparency and encourages collaboration from developers and users alike, inviting the community to contribute to the evolution, suggest changes, and refine the code. Our Github fork stands as an open invitation to the community to participate in the development, embodying our principles of openness and collaboration in the blockchain space. Q & A