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  3. /ERC-6551
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blockchain

ERC-6551

A token standard that gives NFTs their own smart contract wallets (token-bound accounts).

Definition

A token standard that gives NFTs their own smart contract wallets (token-bound accounts). This means an NFT can own other NFTs, tokens, and assets. Your gaming NFT character could carry its inventory as actual tokens inside its own wallet. It dramatically expands what NFTs can do.

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Related Terms

NFT (Non-Fungible Token)

A unique digital asset on a blockchain representing ownership of art, collectibles, or other items.

ERC-721

The Ethereum token standard for non-fungible tokens (NFTs).

Smart Contract

Self-executing code stored on a blockchain that runs when conditions are met.

ABI

Application Binary Interface.

Account Abstraction

A way to make crypto wallets behave more like normal apps by turning every account into a smart contract.

Account Model

The way Ethereum and many other chains track balances.

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