ERC-404：NFT 领域的游戏规则改变者，彻底改变部分所有权

实验性 ERC-404 标准结合了 ERC-20 和 ERC-721 标准，为 NFT 引入部分所有权，有望解决流动性问题。 Pandora 的 ERC-404 实施使用 PANDORA 代币 (ERC-20) 和 Replicants NFT (ERC-721)，允许分段购买和铸造和销毁功能，以促进 NFT 分段化。

ERC-404: A Paradigm Shift in the NFT Landscape

ERC-404：NFT 格局的范式转变

By Benzinga

通过本辛加

On February 2nd, the launch of Pandora, an experimental hybrid token, introduced the ERC-404 standard to the non-fungible token (NFT) realm. This unofficial Ethereum standard, which seamlessly merges the ERC-20 and ERC-721 standards, has sparked a revolution in the NFT ecosystem.

2 月 2 日，实验性混合代币 Pandora 的推出，将 ERC-404 标准引入了不可替代代币 (NFT) 领域。这一非官方的以太坊标准无缝融合了 ERC-20 和 ERC-721 标准，引发了 NFT 生态系统的一场革命。

ERC-404: Bridging the Gap Between Fungibility and Uniqueness

ERC-404：弥合可替代性和唯一性之间的差距

The ERC-404 standard combines the fungibility of ERC-20 tokens, which govern token issuance on the Ethereum blockchain, with the distinctive characteristics of ERC-721 tokens. This unique blend creates a new standard for semi-fungible tokens that facilitate fractional ownership of NFTs.

ERC-404 标准将管理以太坊区块链上代币发行的 ERC-20 代币的可互换性与 ERC-721 代币的独特特征相结合。这种独特的混合为半同质代币创建了新标准，促进了 NFT 的部分所有权。

Pandora: A Pioneer in Semi-Fungibility

潘多拉：半可替代性的先驱

The Pandora project serves as a testament to the power of the ERC-404 standard. By utilizing both ERC-20 tokens (PANDORA) and ERC-721 tokens representing unique NFTs in the Replicants collection, Pandora has ushered in a new era of fractional NFT ownership.

Pandora 项目证明了 ERC-404 标准的力量。通过利用代表 Replicants 集合中独特 NFT 的 ERC-20 代币 (PANDORA) 和 ERC-721 代币，Pandora 开创了部分 NFT 所有权的新时代。

For each PANDORA ERC-404 token purchased, buyers automatically receive a Replicants NFT in their wallet, with varying rarities depicted by the color of the NFT box. The mint-and-burn mechanism ensures that when a PANDORA token is sold, the associated NFT is burned. However, buyers have the option to retain rare NFTs by storing them separately.

对于购买的每个 PANDORA ERC-404 代币，买家会自动在钱包中收到一个 Replicants NFT，不同的稀有度由 NFT 盒子的颜色表示。铸造和销毁机制确保当 PANDORA 代币被出售时，相关的 NFT 会被销毁。然而，买家可以选择通过单独存储来保留稀有的 NFT。

Conversely, when selling or transferring an NFT, only the fungible portion of the PANDORA token is transferred to the buyer's wallet along with the Replicants NFT. This mechanism enables fractional purchases of the PANDORA token, automatically minting an NFT to the buyer's wallet upon acquiring sufficient fractions to form a whole NFT.

相反，当出售或转让 NFT 时，只有 PANDORA 代币的可互换部分会与复制品 NFT 一起转移到买方的钱包中。该机制支持分批购买 PANDORA 代币，在获得足够的分片以形成完整的 NFT 后，自动将 NFT 铸造到买家的钱包中。

Financialization of NFTs: A New Frontier

NFT 金融化：新领域

The ERC-404 standard has the potential to catalyze the financialization of NFTs. By enabling the fractionalization of NFTs, the ERC-404 standard opens up new investment opportunities for individuals who may not have the capital to purchase entire NFTs.

ERC-404标准有潜力促进NFT的金融化。通过实现 NFT 的碎片化，ERC-404 标准为可能没有资金购买整个 NFT 的个人带来了新的投资机会。

Additionally, the ability to wrap existing ERC-721 NFT collections into interchangeable ERC-404 tokens could significantly enhance liquidity in the NFT market.

此外，将现有 ERC-721 NFT 集合包装成可互换的 ERC-404 代币的能力可以显着增强 NFT 市场的流动性。

Competitive Landscape and Future Prospects

竞争格局及未来前景

Since Pandora's launch, several competitors have emerged, such as the Divisible NFT standard (DN-404) and Injective Protocol's CW-404 standard. Solana's SOL/USD SPL-20 tokens also mirror ERC-404 tokens in terms of functionality.

自 Pandora 推出以来，出现了多个竞争对手，例如 Divisible NFT 标准（DN-404）和 Injective Protocol 的 CW-404 标准。 Solana 的 SOL/USD SPL-20 代币在功能方面也与 ERC-404 代币相似。

The ERC-404 standard has ignited excitement among creators and developers, presenting opportunities for integrating NFTs with the DeFi ecosystem and tokenizing in-game assets through fractionalization. This opens up new monetization models within the Metaverse.

ERC-404 标准激发了创作者和开发者的热情，为将 NFT 与 DeFi 生态系统集成以及通过分片化对游戏内资产进行代币化提供了机会。这在元宇宙中开辟了新的货币化模式。

Risks and Considerations

风险和注意事项

As with any innovation, the ERC-404 standard comes with inherent risks. It is crucial to acknowledge that this standard has not been recognized by the Ethereum Foundation and has not undergone formal vetting through an Ethereum Improvement Proposal (EIP). This underscores the potential for exploitation by malicious actors.

与任何创新一样，ERC-404 标准也存在固有风险。重要的是要承认该标准尚未得到以太坊基金会的认可，也没有经过以太坊改进提案（EIP）的正式审查。这凸显了恶意行为者利用的可能性。

Moreover, the standard is still in its experimental stage, with Pandora currently testing a new v2.0-beta version to address bugs, optimize logic, and reduce gas costs.

此外，该标准仍处于实验阶段，Pandora 目前正在测试新的 v2.0-beta 版本，以解决错误、优化逻辑并降低 Gas 成本。

Despite these risks, the immense potential of the ERC-404 standard in unlocking NFT liquidity and enabling collaborative applications within the Web3.0 ecosystem should not be overlooked. Investors are advised to monitor developments closely as this experimental token standard has the potential to reshape the landscape of digital assets on the Ethereum blockchain.

尽管存在这些风险，ERC-404 标准在释放 NFT 流动性和在 Web3.0 生态系统中启用协作应用程序方面的巨大潜力不应被忽视。建议投资者密切关注事态发展，因为这一实验性代币标准有可能重塑以太坊区块链上数字资产的格局。