ERC-6551: Is This the Next Big Leap in NFT Innovation? – Ep. 514

The ERC-721 token standard on Ethereum ignited the frenzied world of NFTs. Yet, as the dust settled, their limitations became apparent. Enter ERC-6551, a new standard designed to overcome these challenges.
Benny Giang and Jayden Windle, cofounder and founding developer of Future Primitive, respectively, delve into the transformative potential of ERC-6551, a standard which allows every NFT to have a smart contract wallet associated with it. They discuss the exciting new possibilities it unlocks in the spheres of gaming, the metaverse, identity, messaging, and more.

🔥 EPISODE LINK 🔥
CHECK OUT THE EPISODE LINKS AND DETAILS HERE
👉 https://unchainedcrypto.com/podcast/erc-6551-is-this-the-next-big-leap-in-nft-innovation/ 👈

Show highlights:
🔹what ERC-6551 is and how the idea was born
🔹the differences between NFT token standards
🔹the four big categories of applications for this new token standard
🔹why Benny thinks that “network playable characters” will solve many of the problems in the digital space
🔹how the token bound accounts work and whether they can interact with existing wallets
🔹the security implications of using ERC-6551
🔹what Future Primitive does in the web3 space
🔹how creators can benefit from this new development
🔹whether it’s possible for soulbound tokens to work with token bound accounts
🔹how blue chip NFT collections are using ERC-6551, if at all
🔹what could go wrong with token-bound accounts that are combined with AI
🔹what new things are being envisioned with this new standard

Thank you to our sponsors!
➡️ Crypto.com
➡️ Arbitrum Foundation
➡️ TOKEN2049
➡️ OKX

Guests:
⭐️Benny Giang, cofounder of Future Primitive
⭐️Jayden Windle, founding developer of Future Primitive

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Timestamps:
00:00 Introduction
01:50 ERC 6551
08:31 Use cases
21:43 Security
33:01 Gas implications
33:35 Future Primitive
35:47 Creators
41:32 ERC 4337
50:34 Metaverse

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#bitcoin #ethereum #crypto #cryptocurrencies
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