ERC-404: Why This Unofficial Standard Could Shake up the NFT World

Imagine owning a piece of a rare digital artwork, like a fraction of a CryptoPunk. Or trading NFTs with the ease of buying cryptocurrencies. This futuristic vision is what ERC-404, a novel yet controversial token standard, aims to achieve. Pandora — the first project adopting ERC-404 that allows multiple wallets to directly own a single NFT at the same time, allowing the assets to be tokenized and used to take out loans or stake holdings. With over 12,000% growth in token price within the first week of the launch of $PANDORA, many developers continue to explore different ways to emulate the success despite the fact that ERC-404 is not an official protocol recognized by the Ethereum Foundation. So, is it all hype — or does it hold the key to unlocking a new era of NFT accessibility and liquidity?

This article delves into the intriguing world of ERC-404. We'll explore its innovative concept of "semi-fungible" tokens, which blend the unique nature of NFTs with the traceability of fungible tokens like Bitcoin.