Difference Between NFT Erc-721 And Erc-1155

It's undoubtedly that NFT has been the trending topic in the mainstream and has been gaining adoption.

NFT is simply a unique digital asset that is created/minted on blockchain protocol to tokenize the ownership of the asset and also to eliminate counterfeit of the unique asset.

NFTs can be minted on different blockchains that support NFTs

However, NFTs that were created/minted on Ethereum blockchain are identified in two standards which are Erc-721 and Erc-1155, just as crypto token created on Ethereum blockchain is standardized as Erc-20.

Without further ado, let's quickly dive into the difference between Erc-721 and Erc-1155.

Erc-721 is the initial standard protocol of creating NFT and Erc-721 are based on deploying a separate smart contract code for different digital asset - NFTs,

It simply means in the Erc-721 protocol, different NFTs are created with separate smart contract codes.

What is the dilemma in the Erc-721 standard protocol?

Erc-721 only support non-fungible token and the gas fees (transaction charges) can be expenses consuming and time-consuming if you want to mint or transfer various type of NFTs.

Erc-1155 wants to eliminate this dilemma by allowing the creation/minting of fungible tokens and non-fungible tokens - NFT.

Erc-1155 also makes minting or transferring of NFTs affordable to everyone because it allows you to transfer multiple NFT in a single transaction, thereby saving you transaction fees you would have paid for the different NFTs.

Erc-1155 also allows you to mint/create a different asset with a single smart contract code unlike Erc--721.

The concept of Erc-1155 is simply to reduce time and expenses spent on creating digital assets by almost 90%.