This week, the first token conforming to the ERC-404 token standard is up 12,500%. The token blends the fungibility of ERC-20 tokens with the distinctive qualities of rare NFTs to herald a new era of tokenization.

Pandora’s PANDORA token has risen to $29,517.61 since its launch earlier this month.

Pandora Tokens Herald Era of Liquid NFTs

Pandora tokens are fractionally bound to a whole NFT. The tokens themselves are tradeable and liquid on decentralized exchanges (DEX) like a regular ERC-20 token. The fractions make the whole NFT as liquid as a regular DEX trading pair.

For example, Pandora’s 10,000 ERC-404 tokens are linked to 10,000 colored box NFTs with varying rarity levels. When someone buys an ERC-404 Pandora token, the project mints a random box bound to that token.

When someone sells the token, Pandora burns the related NFT. The NFTs themselves can be traded on NFT marketplaces.

Read more: ERC721- Non-Fungible Tokens Explained

Binance recently announced ERC-404 support in its Web3 wallet, while another marketplace, called Inscribe, also confirmed adoption. The rollout of marketplaces for ERC-7

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Author: David Thomas

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