ERC-6551: Is This the Next Big Leap in NFT Innovation? - Ep. 514

The ERC-721 token standard on Ethereum ignited the frenzied world of NFTs. Yet, as the dust settled, their limitations became apparent. Enter ERC-6551, a new standard designed to overcome these challenges.
Benny Giang and Jayden Windle, cofounder and founding developer of Future Primitive, respectively, delve into the transformative potential of ERC-6551, a standard which allows every NFT to have a smart contract wallet associated with it. They discuss the exciting new possibilities it unlocks in the spheres of gaming, the metaverse, identity, messaging, and more.
Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Stitcher, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform.
Show highlights:

what ERC-6551 is and how the idea was born

the differences between NFT token standards

the four big categories of applications for this new token standard

why Benny thinks that "network playable characters" will solve many of the problems in the digital space

how the token bound accounts work and whether they can interact with existing wallets

the security implications of using ERC-6551

what Future Primitive does in the web3 space

how creators can benefit from this new development

whether it's possible for soulbound tokens to work with token bound accounts

how blue chip NFT collections are using ERC-6551, if at all

what could go wrong with token-bound accounts that are combined with AI

what new things are being envisioned with this new standard

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Guests:

Benny Giang, cofounder of Future Primitive

Jayden Windle, founding developer of Future Primitive

Previous appearance on Unchained: Your NFTs Can Do Much More Than You Think

Links

ERC-6551: Non-fungible Token Bound Accounts

Tokenbound

ERC 6551 — Token Bound Accounts. Every NFT will have their own wallets… by Benny Giang

Unchained:

How Soulbound Tokens Could Reduce Speculation and Improve DAO Voting - Quadratic Funding

Could Account Abstraction Make Self-Custody Easier for Crypto Users?

Ethereum Implements Account Abstraction With ERC-4337

What Can You Do in the Metaverse?

Exploring the NFT blue chips

What is the metaverse?

What Is an NFT Marketplace?

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