What Is ERC-6551? Explaining the New NFT Token Standard | CoinMarketCap

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What Is ERC-6551? Explaining the New NFT Token Standard | CoinMarketCap
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ERC-6551 is a new token standard for NFTs that is tipped to become a game-changer for the scene. 💪 Very soon, NFTs may become more than profile pictures (PFPs). Buckle up because your NFTs are about to evolve.🔥

The TBA can also hold other assets, such as tokens or other NFTs. These assets can be transferred to or from the TBA by calling functions on the proxy contract.Composability means you can bundle your NFT with its related assets like other NFTs and tokens into one profile. If you sell or transfer the ERC-6551 NFT, every asset in it will be transferred as well.

This opens up new possibilities for loyalty programs or in-game rewards based on an NFT's past behavior. This could also have an impact on the value of your NFT, as platforms could use your NFT's identity and reputation to determine your creditworthiness or reduce counterparty risks.Provenance means that you can get a complete picture of the asset’s transaction history or utility beyond the proof of ownership.

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