In 2023, the NFT 2.0 technical standard ERC-1155 is considered to become a hot trend, and with the arrival of the cryptocurrency bull market in the second half of the year, the market prospects are highly promising.
We interviewed the founder of the CityVegas project, also known as the "Mayor", who is optimistic about the development of NFT 2.0 technology and the market. He said that NFT 2.0 technology adopts the ERC-1155 standard, which has many advantages over the traditional ERC-721 standard.
First, ERC-1155 allows multiple NFTs of different types to be created simultaneously in one contract, which means that multiple NFTs can be transferred simultaneously in the same transaction, thus improving the efficiency and convenience of transactions.
Secondly, ERC-1155 can handle the supply of NFTs more flexibly because it supports batch minting and destruction of NFTs, allowing artists and creators to better manage the quantity of their works.
NFT 2.0 technology has some unique features that make it a better technology:
Nested NFTs - NFT 2.0 introduces a new feature called nested NFTs. This nesting feature allows one NFT to own multiple other NFTs. For the gaming industry, this nesting feature is very useful as it facilitates token holders to own the rights to multiple digital assets in the form of non-fungible tokens.
Customized NFTs - Unlike NFT 1.0, NFT 2.0's customized NFTs not only support use cases such as purchase and sale on trading platforms, but also allow each NFT to have multifaceted capabilities, thereby supporting a variety of use cases and applications.
Leasing NFTs - NFT 2.0 provides the ability to lease specific digital assets through customizable smart contracts. This helps solve the problem of underfunded users owning the assets they need.
Smart NFTs - In NFT 2.0, NFTs can be linked to upgradeable smart contracts, allowing these NFTs to automatically change ownership data when needed. This feature also ensures that the original owner of a particular asset receives a share of royalties every time the asset is resold.
Co-owned NFTs - In NFT 2.0, users can co-own shares of any NFT they wish to purchase with other users, rather than having to pay a high price to own a single NFT. This NFT equity staking can help users generate a steady stream of passive income, and by introducing multiple owners for a single NFT, the value of that particular asset will also increase.
DAO NFT - NFT 2.0 is likely to offer DAO NFT, thereby empowering every user on the same platform. This distributed decision-making system brings more transparency to the NFT platform.
The mayor said that the introduction of NFT 2.0 technical standards will further promote the development and innovation of the NFT market. He believes that the advantages of NFT 2.0 will attract more artists, creators and investors to join this ecosystem. He pointed out that the efficiency and flexibility of NFT 2.0 will make the market more active and bring more opportunities to fields such as digital art, games, sports and entertainment.
He is very optimistic about the bull market of cryptocurrencies and the arrival of the NFT 2.0 bull market in the second half of the year. He believes that as the market's recognition of NFT2.0 continues to increase, more funds and resources will flow into this field, driving its rapid development. He is confident in the layout of the NFT 2.0 field and said that he will increase investment and launch more innovative NFT2.0 assets and experiences.