Following ERC-404, Here Comes DN404 + More NFT News

Sead Fadilpašić

Last updated:
February 13, 2024 at 14:04 GMT+2
| 4 min read

Source: Dalle-3

Top NFT news today, February 13, 2024: Following ERC-404, a new divisible NFT format called DN404 has launched, Magin Eden has announced its Ethereum marketplace launch, and Deadfellaz launched 10,000 Bitcoin Ordinals.

NFT Market Data.

The non-fungible token (NFT) sales volume currently stands at $36,917,776. It is up 0.19% over the past 24 hours.

In the same period, buyers, sellers, and transactions have gone up 5%, 1%, and 7%, respectively.

When it comes to the top 10 collections by sales volume over the past day, Pandora is still in first place with $6,560,152, despite a 16% drop.

Art Blocks increased the most in a day: 444% to $843,870. Meanwhile, Doodles dropped the most: 47.47% to $855,826, according to CryptoSlam.

Today in NFT news: a team of developers reveal a new, experimental blend of ERC-20 and ERC-721 standards; Magic Eden launches its Ethereum marketplace in two weeks; and Deadfellaz creators, DFZ Labs, launch 10,000 Bitcoin Ordinals.

Following ERC-404, Here Comes DN404.

Following the recent launch of an unofficial Ethereum standard ERC-404, a different team of developers announced the launch of the ‘Divisible NFT’ standard (DN404).

Developer “cygaar” announced the launch of DN404, calling it “a hybrid ERC20/721 token.” Per GitHub, it is an implementation of a co-joined ERC-20 and ERC-721 pair.

The team also includes vectorized.eth, quit, 0xjustadev.eth, michaelamadi.eth, and Pop Punk.

Pandora’s ERC-404 combines the popular ERC-20 (token standard) and ERC-720 (NFT standard). “The premise of ERC404 was to create a single contract that can act as both a fungible and non-fungible token. However, this can’t be done without introducing exploits and breaking standards,” cygaar wrote.

The DN404 team’s approach is to have two contracts: a “base” ERC-20 with a “mirror” ERC-721.

Most trading will be done on the base contract, cygaar explained. The base contract is a fully compliant ERC-20 token. It tracks user balances and handles the minting/burning of the mirrored NFTs, said the developer, adding: “You can think of these tokens as fractions of the NFTs.”

These are compatible with decentralized exchanges (DEXes).

Meanwhile, the mirror contract acts as a standard ERC-721 token. All its functions are fully compliant and can be used with any protocol that supports ERC-721s.

Developer Quit further noted that DN404 has not been through the EIP process. Therefore, “we are not calling it…

https://cryptonews.com/news/following-erc-404-here-comes-dn404-more-nft-news.htm

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