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NFT Basics

What Is a Semi-Fungible Token?

Thanks to the ERC-1155 standard, a semi-fungible token makes it possible to distribute fungible and non-fungible assets within the same token.

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Depending on the use, the fungibility of an asset may have several nuances. As seen previously in the chapter ‘What is an NFT’, there is a difference between a fungible asset and a non-fungible asset. Now, we would like to introduce the third type, ‘semi-fungible tokens’. Semi-Fungible Tokens (SFT) are intended to be mass-produced and consumed while keeping an identity of their own. Initially designed for video games, the concept of the SFT was created by Enjin when they offered the ERC-1155 standard on Ethereum.

To fully imagine how an SFT can be used, here are several use cases:

  • Cinema or concert tickets. Each token has information related to the date, time, and nature of the event. But it is not intended to be kept for a long time or traded on a secondary market.
  • A chest obtained in a video game. Once opened, the chest (ERC-1155) disappears to give the player epic armor (ERC-721) and gold coin rewards (ERC-20).

Depending on the needs, NFTs won’t always be the type of assets used and semi-fungible tokens might be preferred. Thanks to the ERC-1155 standard, an SFT makes it possible to distribute fungible and non-fungible assets within the same token.

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