With the development of blockchain technology, blockchain games have also grown rapidly. Non-fungible tokens (NFTs) play an important role in this, bringing new gaming experiences and economic models to players. However, the existing token standards ERC20 and ERC721 have certain limitations in adapting to the needs of blockchain games. ERC404, as an emerging token standard, provides an effective way to solve these problems. This article will first analyze the problems of NFTs in blockchain games, then introduce in detail the innovations of ERC404 and how it revolutionizes blockchain games, and finally look at the application cases of the ERC404 standard in combination with the iGames project.
1. The problem of NFT in blockchain games.
Compared with traditional games, blockchain games have the characteristics of real player ownership, openness and transparency, and community autonomy. Among them, NFTs play a key role in carrying game assets and collectibles. Players can trade NFTs for real possession of rare in-game items. However, the two existing token standards, ERC20 and ERC721, are insufficient to meet the needs of blockchain games.
1.Limitations of the ERC20 token standard.
ERC20 is the most common token implementation standard and is widely used for fungible tokens. The total amount of ERC20 tokens is fixed, and each token is identical and fungible. Many blockchain games use ERC20 as rewards and in-game currency. However, ERC20 suffers from the following issues:
Fungible tokens are difficult to represent unique game assets.
ERC20 is more suitable for fungible and non-differentiated universal tokens. However, in-game items and items are unique and require non-fungible tokens to represent.
Lack of interoperability with NFTs.
ERC20 tokens are difficult to interoperate with non-fungible tokens such as ERC721, which reduces the application space of tokens.
Insufficient permission control.
ERC20 does not implement a permission control mechanism, and anyone can freely send and receive tokens.
2.Limitations of the ERC721 standard.
ERC721 is an NFT standard that represents unique assets in the game. However, there are also the following problems with its application:
High threshold. Obtaining the entire ERC721 NFT requires a high ** and a high barrier to entry.
Difficulty in controlling permissions.
The ownership and use rights of ERC721 NFTs are difficult to subdivide, resulting in difficulties in permission control.
Poor combinability. Each NFT of ERC721 exists independently and is difficult to combine with other NFTs.
Poor liquidity. Due to its uniqueness, the entire NFT is difficult to trade and has poor liquidity.
The above problems make it difficult for the existing token standards to adapt to the application needs of NFTs in blockchain games. This needs to be addressed by a new standard.
Second, the innovation of ERC404.
ERC404 is an innovative token standard specifically designed to solve the above problems and enhance the use of NFTs in blockchain games. Its main innovations include:
1.Support NFT sharding.
ERC404 can shard one ERC721 NFT into multiple ERC20 tokens. For example, divide a rare NFT gear into 100 pieces, each fragment represented by an ERC20 token.
This allows multiple players to jointly hold an NFT. This sharing model lowers the barrier to entry for NFTs, allowing more users to participate. It also realizes the decentralized management of NFTs.
2.Segment NFT permissions.
ERC404 can control the usage rights of each fragment on a subdivided basis through the sharded ERC20 token. For example, only users with more than 50% shards can activate the full functionality of the NFT.
This further subdivides the ownership, use, and income rights of NFTs, enabling more complex permission control. Preserve value and increase availability.
3.Combination capabilities are available.
Multiple fragments can also be recombined to create new NFTs. This provides a completely new NFT portfolio and derivation model.
And it will not affect the original NFT, making the combination more flexible.
4.It can improve liquidity.
Compared to the overall NFT, the sharded ERC20 token is easier to trade. This significantly increases the liquidity of NFTs.
5.Enrich community applications.
Shard sharing can attract more users to join the community and participate in community voting and governance activities through shared NFTs.
3. How ERC404 revolutionizes blockchain games.
ERC404 makes NFT applications more in line with the characteristics of blockchain games. Mainly embodied in:
1.Lower the barrier to entry.
*NFTs have always been a pain point for blockchain gaming. ERC404's shard sharing lowers the barrier to entry for players to acquire rare, expensive NFTs, allowing more users to participate.
This is in line with the concept of blockchain games focusing on fairness and openness. It is also beneficial for building a strong gaming community.
2.Rich permission control.
Segmentation permissions not only preserve value, but also introduce game incentives. For example, props can only be used if you hold more than a certain percentage of the clip.
This is in line with the characteristics of blockchain games that focus on value and ownership.
3.Unleash your creative potential.
The ability to combine and spawn creates more unique game assets that spark creativity and imagination.
This is inseparable from the idea of blockchain games pursuing innovation.
4.Enhance sustainability.
The increased liquidity of shards makes asset transactions smoother, which in turn improves the sustainability of the game.
This is in line with the business characteristics of blockchain games that need to operate for a long time.
5.Enrich community governance.
The use of sharded NFTs for community voting and governance can attract more players to participate and enhance the vitality of the game community.
This is exactly what the community culture that blockchain games live on requires it.
In short, ERC404 makes NFT application scenarios richer, permission control more refined, asset liquidity higher, creation space larger, and community operation more sustainable. This is highly consistent with the concept and needs of blockchain games, and will promote the development of the entire blockchain game ecosystem.
4. Application of ERC404 standard by iGames.
iGames is a public chain platform based on blockchain games. It will apply the ERC404 standard in many aspects, bringing richer NFT application scenarios to games.
1.Shards share rare NFTs
iGames will use ERC404 to shard rare NFTs, lower the barrier to entry for players, and attract more users to participate in snapping up **NFTs.
2.Segment NFT permissions.
Set different permission controls for each NFT fragment, for example, some fragments have the right to use equipment, while others have the right to **. This not only protects the value of NFTs, but also encourages more players to participate in it. iGames will also dynamically adjust the permission allocation of each segment based on community voting, allowing community members to jointly decide the rules for using NFTs.
3.Support NFT portfolio creation.
iGames will provide tools for players to recombine multiple NFT fragments to create a new complete NFT. Players can be creative and combine different game materials to create a blend. The created new NFTs can also be sold or rented again to stimulate creation and communication.
4.Improve the liquidity of the NFT market.
On iGames, it is possible to trade NFT shards directly instead of asking for the entire NFT to be traded. This greatly increases the liquidity of the NFT Between marketplace, giving more users the opportunity to participate in the trading of special NFTs. Users can also choose whether they want to collect and redeem the entire NFT.
5.Enriching community activities.
Based on sharded NFTs, iGames will introduce targeted community incentive activities. For example, you can hold a certain fragment of a specified NFT to be eligible to participate in a community vote. This expands the scope of community participation and also increases the sense of entitlement of community members.
6.Connect the metaverse and the real world.
iGames will also explore the distribution of NFT fragments at real-world events as a way to connect the metaverse and reality. For example, in real-world events, NFTs that can be combined into physical rewards are distributed according to the degree of contribution. This brings a new dimension to many real-life entertainments.
Through the above measures, iGames will give full play to the advantages of the ERC404 standard to enrich the NFT application scenarios of blockchain games and bring an unprecedented gaming experience. As a public chain-level game platform, igames will also promote the development of the entire industry.
5. Summary. ERC404 makes NFT application scenarios richer, permission control more refined, asset liquidity higher, creative space larger, and community operation more sustainable. This is highly consistent with the concept and needs of blockchain games, and will drive the development of the entire blockchain game ecosystem.
As an emerging public chain-level gaming platform, iGames will fully embrace the ERC404 standard. This will not only make the gaming experience of iGames better, but also have a positive effect on the development of the entire industry.
Looking forward to the future, with the gradual maturity and improvement of the ERC404 standard, its application prospects in the field of blockchain games are very promising. igames will continue to innovate based on this standard to bring players a different gaming experience.