ERC-721 vs. ERC-1155 Token Standards

ERC-721 and ERC-1155 are two popular Ethereum token standards, both used for creating NFT collections.

The ERC-721 token standard is for unique, non-replicable tokens, like collectible items or artwork. Each token is distinct, requiring a new smart contract for each token type, which increases gas fees and transaction times.

The ERC-1155 token standard is more versatile and more efficient, supporting both fungible and non-fungible tokens on a single contract. It allows batch transfers, lowering transaction costs and simplifying operations for projects like gaming where multiple assets are traded together.

Comparison of the ERC721 and ERC1155 token standard

• Token Flexibility: ERC-721 is strictly for NFTs, while ERC-1155 supports both fungible and non-fungible tokens.

• Transaction Efficiency: ERC-1155 supports batch transfers, while ERC-721 requires individual transactions.

• Smart Contract Design: ERC-721 requires a new contract for each token type, whereas ERC-1155 can handle multiple token types under a single contract. On Highlight, you can reuse contracts for any edition flow when deploying on an ERC-1155 contract, allowing for more flexibility in managing multiple editions. However, when using the ERC-721 standard, contract reuse is limited to specific cases like limited editions and one-of-one tokens, making it less versatile.

Note: ERC-1155 tokens are limited to edition flows and are not available for series or generative series.