Is ERC-404 the New Narrative?

[Cryptoababe]

If NFT can be broken into fungible tokens with ERC-404, then it's no more NFT. I don't see any reasonable reason for doing that. Anyways, I'm a noob in this NFT stuff. So let's see how it goes.

[Jascrypt]

I'm intrigued by the possibilities of ERC-404 and excited to see where projects like Pandora take it. But in such a fast moving space, it's hard to predict which standards will gain long term traction. Let me know your thoughts on whether ERC-404 could become a leading narrative in the NFT world!

Seen this a few days and kinda hard to understand technically but some OG who explaimed it sounds like a solution to some of the diluted nft or thriving problem on liquidity on nft and tokens. Somehow I kinda feel it is unless there is no vulnerabilities found on the set up of erc404. Binance easily supported it or even put up a thread how it works. But still early to judge but from the hype its created it seems working.

I don't think Binance or ethereum has announced their support for the erc-404 but would be encouraging if they did particularly if it has been vetted and declared secured. Atm it's Bitget wallet and few DEXes supporting it.

[JeffBrad12]

If NFT can be broken into fungible tokens with ERC-404, then it's no more NFT. I don't see any reasonable reason for doing that. Anyways, I'm a noob in this NFT stuff. So let's see how it goes.

technically speaking its still non fungible though its just literally allowing people to buy fraction of NFT but represented in token, because if the token isn't whole, the NFT gonna get burned.
I think its good feasible way to make some NFT more affordable but we all know that without whole token which mint NFT its gonna be kinda useless but then again it still gonna retains value in the market I guess.
I personally have no problem with this new ERC-404 seems like it gonna open the market of NFT to a whole new level.
but its still experimental anyway, we haven't seen any implication of the usage of this protocol, maybe there gonna be some bugs or something the whole thing seems kinda complicated.
but I guess thats the price of implementing a whole new protocol.

[crwth]

Well, upon researching it, the main function is that you can fractionalize NFTs right? So in essence, you could own a fraction of different NFTs that might be too much or expensive for one person. Additionally, it's good with this because the liquidity and trading could give more volume to the NFT market. It's possible that having this ERC-404 would make the market more liquid and more trades can be done.

[tbterryboy]

Yes of course, people need a new narrative, and ERC 404 was created, after BRC 20 yesterday it was time for an ERC to be created, maybe later there will be Solana and BNB, but maybe wait for ERC 404 to fade.
or maybe I'm wrong and erc 404 will take over the entire market.

No not all needs them because for some of us, the existing stuffs are already fine but the new narratives might still be a good addition to the space, though we should only be careful as some of them are scams and only wants to take our money. BRC-20 is still a new thing in crypto and for now it may be enough.

There is no need to rush and add ERC-404 immediately. Doing so will help them analyse it better so that the software will be less buggy. After ERC or ETH, next is definitely BNB while Solana is still long in the queue, so patience is needed for those who badly wants it. There's a chance for ERC-404 to shine but maybe not to a point that it will take over the entire market.

[Cryptoababe]

technically speaking its still non fungible though its just literally allowing people to buy fraction of NFT but represented in token, because if the token isn't whole, the NFT gonna get burned.
I think its good feasible way to make some NFT more affordable but we all know that without whole token which mint NFT its gonna be kinda useless but then again it still gonna retains value in the market I guess.
I personally have no problem with this new ERC-404 seems like it gonna open the market of NFT to a whole new level.
but its still experimental anyway, we haven't seen any implication of the usage of this protocol, maybe there gonna be some bugs or something the whole thing seems kinda complicated.
but I guess thats the price of implementing a whole new protocol.

Thanks for detailed explanation on how this will work. Now, I think its a good way to make some NFTs affordable as you've said. And this might also reduce to risks in investing in some NFT as there will be less loss cos most people won't be needing to purchase a whole NFT anymore. And hopefully, there won't be much bugs as you've said.