The Rise of ERC-404 From Zero to $357 Million ( MarketCap in week ) A new kind of NFT, with an in-built capacity for fractional trading, has risen in popularity this week.Called ERC-404 this unofficial standard’s first token, launched Feb. 5th. Let's have a Look 😶🌫️ERC404 aims to be a hybrid of ERC721 and ERC20 - it's an NFT token that has fungible fractionalization built in.In order to own an NFT, you need to have at least 1 base unit (100 in our case) fractions.You can calculate the NFT balance of an address by doing floor(balanceOf[address] / baseUnits).If we had 138 fractions, we'd have 1 NFT. 199 fractions is also 1 NFT. 200 units = 2 NFTs.ERC404 is a token standard that closely resembles an ERC721 token with built-in ERC20 fractions. This allows for fungible trading on DEXes while still being supported on NFT applications.The 404 number is arbitrary, but ultimately it's social consensus that matters.
