28. November 2023

• ERC-6551 is an Ethereum Improvement Proposal (EIP) that would give Nonfungible Tokens (NFTs) their own smart contract accounts, allowing them to store other NFTs and crypto tokens.
• The proposal was created by Jayden Windle and Benny Giang of Future Primitive, who wanted to create a self-sovereign inventory system for NFT projects.
• Potential use cases for ERC-6551 include blockchain gaming, DAOs, and asset airdropping into NFTs.

What is ERC-6551?

ERC-6551 is an Ethereum Improvement Proposal (EIP) that would give Nonfungible Tokens (NFTs) their own smart contract accounts, allowing them to store other NFTs or crypto tokens. This system was proposed by Jayden Windle and Benny Giang of Future Primitive who wanted to create a self-sovereign inventory system for NFT projects.

What are the Use Cases of ERC-6551?

Potential use cases for this system include blockchain gaming, DAOs, and asset airdropping into NFTs. In terms of gaming applications, the proposal could be used as an inventory system so that users can equip game items onto their characters. Additionally, it could also be used in DAOs where members have all their information stored within one token instead of separate wallets and tokens. Lastly, assets can also be dropped from centralized services such as exchanges or decentralized networks directly into the user’s personal account within an NFT rather than relying on addresses or wallets outside the ecosystem.

How Did This Idea Come About?

The idea behind giving each NFT its own wallet came about when Windle and Giang were working on an NFT project which allowed users to equip accessories onto their characters but found nothing that could facilitate such use case without creating additional complexities or tooling. By giving each NFt its own wallet with its own set of rules applicable only to itself they were able to achieve the desired outcome without having to rely on external elements outside the ecosystem thus making it more secure and self-sovereign in nature.

Who Is Behind This Proposal?

Jayden Windle and Benny Giang are two developers from Future Primitive who are behind this proposal as well as many other innovative solutions related to cryptocurrency development on Ethereum blockchain specifically targeting nonfungible tokens otherwise known as digital collectibles . They published their idea under the form of EIP 6551 hoping it will help further adoption in this field as well as provide unprecedented level of security when dealing with such assets both inside games as well as decentralized autonomous organizations or DAO for short .

Conclusion

Through this article we discussed what ERC 6551 is , who proposed it , what are some potential uses cases related to non fungible tokens , how did they come up with this idea ,and finally who are the people behind this exciting initiative . We hope you learned something new from this article if you have any questions feel free to reach out .