The Ethereum token standard, ERC-1155 and ERC-721, non-fungible tokens (NFTs) differ mainly in the way they are created and handled:
ERC-721: Each token created according to the ERC-721 standard is unique and individual. An ERC-721 token always represents a specific object or asset. Each token has its own identity and metadata, which makes it unique. Example NFT project “Bored Apes”.
ERC-1155: In contrast, the ERC-1155 standard can be used to create both fungible and non-fungible tokens. It allows a smart contract to hold any number of token types. A single contract can manage both fungible tokens and NFTs, creating efficiency in management and transactions, saving costs and allowing multiple tokens to be traded in one transaction. This makes it attractive for gaming, digital collectibles and token asset management.
In summary, while ERC-721 treats each token as unique, ERC-1155 allows the management of different token types within a single contract.
