MetaMask Announces Upgraded Extension for Automatic NFT Detection
On April 5th, MetaMask announced that in the latest version of the extension, all ERC-721 and 1155 tokens will appear as long as automatic NFT detection is enab
On April 5th, MetaMask announced that in the latest version of the extension, all ERC-721 and 1155 tokens will appear as long as automatic NFT detection is enabled. Through this update, users can send ERC-721 tokens, and the function of sending ERC-1155 tokens will soon be added.
The new version of MetaMask supports sending ERC-721 tokens
As of April 5th, MetaMask has released its newest version of the extension, allowing for all ERC-721 and 1155 tokens to be automatically detected. Users will now be able to send and receive ERC-721 tokens, with the added function of sending ERC-1155 tokens expected to be included in the near future. This upgrade signals a step forward in the overall usability of MetaMask and streamlines the process of sending and receiving NFTs.
Understanding ERC-721 and ERC-1155 Tokens
Before delving into the updates made by MetaMask, it is important to understand the significance of ERC-721 and ERC-1155 tokens. The former is a standard for creating and handling NFTs. Unlike fungible tokens, such as cryptocurrencies, NFTs are unique and possess their own distinct characteristics. They are crucial in the current digital art market, allowing creators to monetize their work without sacrificing exclusivity.
ERC-1155, on the other hand, allows for the creation of both fungible and non-fungible tokens. This standard has recently gained popularity due to its efficient use of Ethereum’s blockchain, allowing for a high volume of transactions at a low cost.
MetaMask’s Latest Upgrade
MetaMask users can now enjoy automatic NFT detection for both ERC-721 and ERC-1155 tokens. This means that any NFTs held within the user’s wallet will be visible and accessible without the need for manual activation. In addition, the ability to send ERC-721 tokens has also been added to MetaMask’s functionality, paving the way for more seamless NFT transactions.
However, it should be noted that the ability to send ERC-1155 tokens is not yet available, but expected to be added soon. This particular feature will allow for the easy exchange of multiple items, such as a collection of digital artwork.
Benefits of MetaMask’s Update
The latest upgrade made by MetaMask presents several benefits to users of the wallet. Firstly, automatic NFT detection saves time and streamlines the process of accessing NFTs. This is especially useful for NFT collectors, who may own multiple unique tokens. The addition of the ERC-721 sending function also makes the process of sending NFTs much easier and more efficient.
Furthermore, the upcoming addition of ERC-1155 support will allow for the exchanging of various assets in a highly efficient and cost-effective manner. This will greatly benefit creators and collectors alike, as it means that they will be able to easily and cheaply trade large numbers of assets.
Conclusion
MetaMask’s most recent update provides its users with a greater level of convenience when working with NFTs. Automatic NFT detection and the ability to send ERC-721 tokens are both highly beneficial features, and the eventual inclusion of the ERC-1155 function will only serve to further streamline the NFT transaction process.
FAQs
Q: What is an NFT?
A: An NFT, or non-fungible token, is a unique digital asset that is indivisible and possesses its own distinct characteristics.
Q: Why are ERC-1155 tokens gaining popularity?
A: ERC-1155 tokens are gaining in popularity due to their efficient use of the Ethereum blockchain, allowing for a high volume of transactions at a low cost.
Q: What benefits does automatic NFT detection provide to MetaMask users?
A: Automatic NFT detection streamlines the process of accessing NFTs and saves time for users who own multiple unique tokens.
This article and pictures are from the Internet and do not represent SipPop's position. If you infringe, please contact us to delete:https://www.sippop.com/13614.htm
It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.
Related recommendations
-
The Graph Announces Two New Members Joining the Committee
On April 26th, the decentralized indexing protocol The Graph announced that two new members will join the Graph committee, namely Chris Wessels, founder of Grap
-
INX Digital Company, Inc. Reports 2022 Financial Results
On April 1, it was reported that The INX Digital Company, Inc., the operator of the crypto exchange, announced its annual financial report as of December 31, 20
-
FTX Delays Auction Date for Ledgers X Derivatives Trading Platform
It is reported that FTX has changed the auction date of its derivatives trading platform, Ledger X, from March 22 to April 4. It is reported that this is the se
-
When was the auction coin issued (auction coin issuance volume)
When was the auction coin issued? According to the official news, on August 18, 2018, the blockchain project auction coin co founded by Korea Exchange OKCoin was launched on the trading platform. According to public information, as of now, the registered users of this project have exceeded 10000 At the end of December 2017, Korea Exchange bithumb officially announced that it would launch its own decentralized digital currency aokex (“Bithumb” for short), and reached cooperative relations with many local mainstream Cryptocurrency exchange. It is reported that Bithumb is a point-to-point pool transaction protocol based on Ethereum network, which aims to provide better settlement means for digital assets and a safe, transparent and fair market environment Auction coin issuanceAccording to Coinnape, the current issuance of Auction coins is 2.36 billion. Of which, the total amount is about 1.07 billion (2.83% of the flux) from the Ethereum community; The total amount exceeds 100000 pieces generated by the decentralized exchange Compound. A total…
-
What does the g2 miner mine (ghp miner)?
What does the g2 miner mine? There are three main types of mining that the g2 mi
-
Uniswap’s ARB/ETH Liquidity Pool Records $180 Million in Transaction Volume
On March 24th, Uniswap data showed that the transaction volume of the ARB/ETH liquidity pool exceeded $180 million, bringing a net fee of $542000 to liquidity p
-
Mawson Infrastructure Shifts Its Business from Australia to Pennsylvania
It is reported that the encryption mining enterprise Mawson Infrastructure announced its withdrawal from the Australian market and launched new mining business…
-
Gnosis Builders Announces $5 Million Project to Increase Validator Diversity
According to reports, Gnosis Chain developer Gnosis Builders has announced a $5 million project to increase the number and diversity of validators through incen
-
Anonymous Transfer of 9 Million MATICs to Coin An
According to reports, Whale Alert monitoring data showed that at 11:04:11 Beijing time, an anonymous address transferred 9 million MATICs (about US $9.6 million
-
Lookonchain Reports 1.43 Million FXS Unlocked: What It Means for the Cryptocurrency Market
According to reports, Lookonchain data monitoring shows that approximately 1.43 million FXS (approximately $11.7 million) have been unlocked recently.
Data: Rec