Elacity’s NFT Marketplace Introduces ERC404 Standard for Innovative NFT Features
Elacity, the groundbreaking NFT Marketplace built on Elastos, has announced its support for trading ERC404 standard NFTs. This development allows the trading of fractional NFTs, in line with current token trading standards.
The ERC404 standard addresses the limitations of existing NFT trading processes by combining the features of ERC-20 and ERC-721 tokens into a more flexible model. This allows customers to buy and sell portions of NFTs, creating liquidity pools and new use cases for NFT platforms. This includes trading fractional royalties for various digital content and assets like music, artwork, and books.
Sasha Mitchell, the CEO and Founder of Elacity, believes that the adoption of ERC404 is a significant advancement for digital rights and NFT space. It provides creators ownership over their content and enables users to interact with creators on a deeper level. Additionally, it enhances trading for NFT markets, offering utility through access or royalties to services.
The introduction of fractional NFT ownership will increase flexibility for buyers and sellers, potentially leading to the creation of secondary markets and added value. Overcoming technical challenges, this development gives creators more control and audiences more choice.
This achievement is in line with Elacity’s vision of becoming a Decentralized Digital Rights Marketplace (DDRM), where fractional ownership and royalty generation benefit creators and users. DDRM extends the current Digital Rights Management Technology (DRM) to provide enhanced protection for digital content.
About Elacity: an innovative decentralized content marketplace revolutionizing content creation, purchase, and sale through blockchain technology. Elacity’s parent company, Elastos, integrates blockchain technology with platform components for a modern Internet infrastructure that prioritizes privacy and digital asset ownership.
Source link
#NFT #Marketplace #Elacity #Enables #ERC404 #Standard #Revolutionary #NFT #Functionality
