With new support for ERC1155 NFTs, Nansen increases its breadth and depth of NFT insight. This update adds over 1K NFT collections to our existing 18K already tracked. All new ERC1155s are fully integrated into our existing dashboards.
What are ERC1155s and how are they used?
The ERC1155 standard allows innovative uses for NFTs such as batched transfers, multiple tokens and gas saving mechanics. This added utility, makes ERC1155s well suited for large-scale NFT collections common to gaming, metaverse and membership based applications. Data shows that Parallel trading cards are the most successful ERC1155 by trading volume of all-time. Other popular projects include metaverse items from Sandbox’s Fantasy Islands and Frontiers battle based game.
Is this the future of Gaming and the Metaverse?
Despite ERC1155s losing market share to ERC721s, there is a recent trend in initial sales (mints) for gaming and metaverse based NFTs. If the popularity of these types of NFTs continue to grow, we can expect to see renewed interest in the ERC1155 standard.
The addition of ERC1155s to Nansen’s data takes another stride towards total coverage for real-time and on-chain NFT analytics across multiple standards, marketplaces and blockchains.
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The authors of this content and members of Nansen may be participating or invested in some of the protocols or tokens mentioned herein. The foregoing statement acts as a disclosure of potential conflicts of interest and is not a recommendation to purchase or invest in any token or participate in any protocol. Nansen does not recommend any particular course of action in relation to any token or protocol. The content herein is meant purely for educational and informational purposes only and should not be relied upon as financial, investment, legal, tax or any other professional or other advice. None of the content and information herein is presented to induce or to attempt to induce any reader or other person to buy, sell or hold any token or participate in any protocol or enter into, or offer to enter into, any agreement for or with a view to buying or selling any token or participating in any protocol. Statements made herein (including statements of opinion, if any) are wholly generic and not tailored to take into account the personal needs and unique circumstances of any reader or any other person. Readers are strongly urged to exercise caution and have regard to their own personal needs and circumstances before making any decision to buy or sell any token or participate in any protocol. Observations and views expressed herein may be changed by Nansen at any time without notice. Nansen accepts no liability whatsoever for any losses or liabilities arising from the use of or reliance on any of this content.
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