Selecting a standard for supporting NFTs is not so much a preference, but a necessity that each project has to resort to for technical reasons.
All Chimeras NFT-packs were released in ERC-721 standard. However, users and holders can unpack their NFT-packs and make use of them in ERC-1155 standard. We chose the latter standard for a number of critical advantages it provides to both the project in terms of functionality, and the community in terms of versatility.
Since the ERC-1155 standard is more advanced and recent, unfortunately not all scanners and wallets support it. As a result, when unpacking their NFTs, some members of the Chimeras community got the impression that the NFTs they had purchased were not in the pack at all.
To make sure all processes for our community are streamlined and convenient, we have developed a special section in the Personal Account on the official Chimeras website, where users can scan their NFTs and verify them. All users are welcome to go to https://account.chimeras.io/ and try out the feature.
If the ERC-721 and ERC-1155 token standards are to be compared, then it is necessary to delve into some of their technical characteristics.
All ERC-721 tokens have a name field that makes it visible to all applications using it. The standard also provides a functions field defining ownership and transfer instructions. Lastly, the token has an ID allowing developers to track it. In essence, the ERC-721 is the first standardized Non-Fungible Token standard that is specifically designed to be unique as a single asset. This makes it difficult to both mint and transfer collections of ERC-721 tokens, resulting in high gas fees on the Ethereum network.
ERC-1155 tokens, on the other hand, have the same technical characteristics of ERC-721, but with the added benefits of being able to support both non-fungible and fungible tokens. ERC-1155 tokens can use a single contract to make various types of NFTs, resulting in much lower gas fees, but at the expense of tracking difficulties in terms of ownership — a drawback arising from smaller data packs on the blockchain.
The main advantages of using the ERC-1155 standard are threefold. The first is that the standard allows for much more effective transfers, giving users the opportunity to transfer multiple tokens in the same operation within the same smart contract with a series of fungible or non-fungible tokens.
The second advantage is the ability to describe the presence and operation of multiple tokens, of both the fungible and non-fungible token types, within the same smart contract.
The third and final advantage is higher security, since the ERC-1155 standard contains an embedded transaction validity check function. If the transaction is recognized as invalid, the tokens are returned to the sender, thus preventing accidental transfers to wrong addresses.
The value added by the adoption of the ERC-1155 standard is best reflected its application by the Chimeras community, which will be able to save significant amounts on gas fees and enjoy higher security. The standard also gives more versatility in terms of transfer facility and minting.
The biggest drawback is the relatively lower degree of support for the ERC-1155 standard on the part of most Dapps on the market. The reason is largely the novelty of the standard, which has not yet given most market players sufficient time to adopt it and tailor Dapps to support it.
However, Enjin, the developer of the ERC-1155 standard provides all the tools necessary for tracking and operating with the tokens. The Enjin ERC-1155 Tracker is the most reliable go-to solution for tracking the tokens.
The ERC-1155 standard may be novel and intriguing, but it is a far cry from the ERC-721, offering users considerable advantages, which are reason enough to make the shift in their favor. The Chimeras development team is confident that the adoption of the ERC-1155 standard will make all in-game NFTs much more convenient, cost efficient and, most importantly — valuable for all community members.