ERC-721 vs. Other NFT Standards: Which Is Best for Creators?

Introduction to NFT Standards

The world of Non-Fungible Tokens (NFTs) has exploded in recent years, with creators, artists, and brands leveraging them for digital ownership, collectibles, and more. While many assume NFTs are a single, uniform technology, there are actually multiple standards—each with its own strengths and weaknesses. The most widely recognized standard is ERC-721, but alternatives like ERC-1155, SudoSwap’s SSX, and Solana’s SPL-NFT offer different approaches.

For creators, choosing the right NFT standard depends on their goals, whether it’s minting art, in-game items, or complex digital assets. This article explores ERC-721 vs. other NFT standards, helping creators decide which is best for their projects.

ERC-721: The Gold Standard of Digital Ownership

What is ERC-721?

ERC-721 is the original Ethereum-based NFT standard, introduced in 2017. It defines a set of rules for creating unique, verifiable digital assets. Key features include:

• Uniqueness: Each NFT has a distinct identifier, ensuring no two are alike (even if they look the same).
• Transferability: NFTs can be bought, sold, and traded on marketplaces like OpenSea.
• Smart Contract-Driven: Standardized functions like safeTransferFrom() and ownerOf() simplify development.

Pros for Creators

• Largest Ecosystem: Most marketplaces, wallets, and tools support ERC-721.
• Familiarity: Users and developers understand ERC-721, making integration easy.
• Liquidity: Widely traded on platforms like Magic Eden, Rarible, and LooksRare.

Cons

• Costly: Gas fees on Ethereum can be expensive for creators minting NFTs.
• Inflexible for Multiples: Not ideal for fungible or semi-fungible assets.

ERC-1155: The Multi-Token Standard

What is ERC-1155?

Developed by the Enjin team, ERC-1155 is a hybrid standard that supports both NFTs and FTs (fungible tokens) in a single contract. This flexibility is a game-changer for creators with diverse asset types.

Key Benefits

• Cost-Efficient: Can mint thousands of tokens in a single transaction.
• Versatility: Manages both unique items and identical tokens (e.g., in-game currency + rare collectibles).
• Simplified Smart Contracts: Requires less deployment work than managing separate ERC-20 and ERC-721 contracts.

Best Use Cases

• Gaming: Ideal for in-game assets, like weapons (NFTs) and tokens (FTs).
• Hybrid Projects: For mix-and-match tokens (e.g., branded NFTs + token rewards).

Solana’s SPL-NFTs: Faster, Cheaper NFTs

What are SPL-NFTs?

The Solana blockchain’s SPL (Solana Program Library) token standard extends into NFTs with SPL-NFTs, offering:

• Near-Instant Transactions: Solana’s blockchain is much faster than Ethereum.
• Ultra-Low Fees: Minting and trading costs fractions of a cent.
• Growing Ecosystem: Popular in gaming and decentralized apps (dApps).

Pros for Creators

• Affordable: Great for emerging artists or high-volume NFT drops.
• Gamified Experiences: Strong in Solana-based gaming projects (e.g., Star Atlas).

Cons

• Smaller Liquidity: Not yet as widely supported as Ethereum’s NFTs.

**NFT Standards on Other Chains (Cardano, Flow, Tezos)

Beyond Ethereum and Solana

Other networks offer unique NFT approaches:

• Cardano (NFT policy IDs): Focuses on transactional security and ecological sustainability.
• Flow (Dapper Labs’ chain): Built for high-traffic dApps like NBA Top Shot.
• Tezos (FA2 standard): Allows for switching between NFT and FT types.

These standards may offer a good balance of fees, scalability, and governance for niche use cases.

Conclusion: Choose the Right Tool for Your Vision

For most creators, ERC-721 remains the gold standard for NFTs due to its wide support and maturity. However, if you need multiplicity or cost efficiency, consider ERC-1155. For scalability and low fees, Solana’s SPL-NFTs are an excellent option.

Final Recommendation:

• Artists & Collectibles: ERC-721 (maximum exposure).
• Games & Mixed Assets: ERC-1155 (simplicity + efficiency).
• Budget-Friendly Projects: Solana SPL-NFTs (lowest barriers to entry).

Each standard has trade-offs—research your needs before minting. The NFT landscape keeps evolving, so staying informed will be key.