NFT Token standards: ERC-721s and ERC-1155s
With RareCircles, you can create two types of NFTs, ERC-721s and ERC-1155s.
Also known as one-of-one NFTs, these are unique NFTs that are truly one-of-a-kind.
Also known as one-of-many NFTs, these are NFTs that can be sold multiple times—during the creation process you set how many of each item will be created.
The Differences between ERC-721s and ERC-1155s
The ERC-721 tokens are used when each item in a collection is truly unique and requires it's own "token". ERC-1155, on the other hand, might include an item in a collection that has multiple editions, with users being able to buy a single edition of said token.
The Bored Ape Yacht Club, a collection featuring 10,000 unique ape images, uses an ERC-721 token standard. Other examples of collections using the ERC-721 standard are LinksDAO (note that they are using a one-of-one token standard despite all of the NFTs being represented by the same artwork) and World of Women.
adidas used an ERC-1155 token standard for their 'adidas Originals Into the Metaverse' collection. As you can see in their collection, one NFT was created despite the token having 30,000 owners. Other examples of collections using the ERC-1155 standard are the White Rabbit Producer Pass and Parallel Alpha.
Choosing between ERC-721s and ERC-1155s
Most project requirements will be supported by both ERC-721 and ERC-1155 token standards. If you'd like to dig in deeper on the differences between the two, you can check out more information here from the Web3 University. Note that collections can only include one token standard, and you'll need to create a new collection to generate NFTs using another token standard.
If you are unsure which token standard is best for your project, reach out to your account manager and we'll help guide you through the selection!