What Are NFT Token Standards? ERC-721, ERC-1155, Solana, and More Explained

When you buy an NFT, you’re not just buying a JPEG or a clip of audio. You’re buying proof of ownership on a blockchain - and that proof only works because of something called a NFT token standard. Without these standards, your NFT wouldn’t be recognizable by wallets, marketplaces, or apps. It would be like having a digital deed to a house that no one else can read. NFT token standards are the rulebooks that make sure everyone speaks the same language when it comes to unique digital assets.

What Exactly Is an NFT Token Standard?

An NFT token standard is a set of technical rules built into a blockchain that defines how a non-fungible token behaves. Think of it like a USB port: no matter what device you plug in - a mouse, a phone, a camera - as long as it follows the USB standard, it works. Same idea with NFTs. If a token follows ERC-721 on Ethereum, any wallet or marketplace that supports ERC-721 can display it, let you transfer it, and verify its ownership.

These standards solve a big problem: before they existed, every NFT project had to build its own custom code. That meant your CryptoKitty couldn’t be sold on OpenSea unless the creator manually coded compatibility. Standards changed that. They created interoperability. Now, whether you mint your NFT on Ethereum, Solana, or Flow, if it follows the right standard, it just works.

ERC-721: The Original NFT Standard

ERC-721 was the first real NFT standard, introduced in early 2017 and officially adopted in 2018. It was created to handle the chaos caused by CryptoKitties - a game where people bred digital cats that sold for thousands. The Ethereum network got so clogged that transaction fees skyrocketed. ERC-721 gave developers a clean, reusable template to create unique tokens without reinventing the wheel.

Here’s what ERC-721 requires:

• A unique ID for each token (a number that can’t be reused)
• Functions to check who owns a token (ownerOf)
• Functions to transfer ownership safely (safeTransferFrom)
• Approval systems so someone else can sell your NFT on your behalf

It’s simple, reliable, and supported by 97% of Ethereum NFT marketplaces. But it has a major flaw: you can only transfer one NFT at a time. If you own 10 NFTs and want to send them to a friend, you need 10 separate transactions. That means 10 times the gas fees - which, during peak times, could cost you hundreds of dollars.

ERC-1155: The Efficient Multi-Token Standard

Enter ERC-1155, created by Enjin in 2018 and approved in 2019. This standard changed the game by letting one contract handle multiple types of tokens - both fungible (like ETH) and non-fungible (like NFTs). It uses a single token ID that includes both a type and an instance. Think of it like a barcode that says “Type: Rare Sword, Instance: #482”.

The big win? Batch transfers. You can send 10 different NFTs in one transaction. Enjin’s tests showed this cuts gas costs by up to 90% compared to ERC-721. That’s why games like Splinterlands and big NFT collections like The Sandbox use ERC-1155. It’s cheaper, faster, and better for projects that need to issue hundreds or thousands of unique items.

But there’s a trade-off. Managing metadata (like the image, name, and attributes of each NFT) is more complex. Each token type needs its own metadata file, and if you mess up the structure, your NFTs might not show up right in wallets. Still, for developers building scalable NFT projects, ERC-1155 is often the smarter choice.

ERC-998: Composable NFTs - NFTs That Own Other NFTs

If you’ve ever wanted your NFT to be more than just a static image - say, a digital character that owns weapons, armor, and a pet - then ERC-998 is the standard for you. Proposed by Nick Mudge in 2018, it lets one NFT hold other NFTs and even fungible tokens inside it. Think of it like a digital Russian nesting doll.

For example: You own a virtual warrior NFT. Inside it, you’ve stored a sword NFT and 5 ETH. When you sell the warrior, the sword and ETH go with it - all in one transaction. This opens up entire new worlds for gaming, virtual real estate, and digital identity systems.

But it’s not widely adopted yet. The complexity is high. Wallets and marketplaces need special code to understand nested ownership. Only a handful of platforms support it. Still, it’s one of the most promising standards for the future of digital ownership.

Solana’s NFT Standard: Speed Over Compatibility

Ethereum isn’t the only game in town. Solana’s NFT standard, built by Metaplex, works completely differently. Instead of using smart contracts like ERC-721, it uses separate account structures. Each NFT is its own account on the Solana blockchain, linked to metadata stored on Arweave or IPFS.

The result? Blazing speed. Transactions settle in under a second. Fees? Around $0.00025 per NFT mint or transfer. That’s why artists and indie creators flock to Solana. You can mint 10,000 NFTs for less than $3.

But here’s the catch: compatibility. Only about 68% of Solana wallets fully support NFTs. Some wallets can’t display metadata correctly. Marketplaces are fewer - only about 12 major ones compared to 200+ on Ethereum. And because each NFT is its own account, users sometimes run into “account space” errors - a unique Solana problem where wallets need enough space to hold NFTs.

Flow: Built for Everyday Users

Flow, created by Dapper Labs (the team behind NBA Top Shot), was designed with one goal: make NFTs easy for regular people. It uses a programming language called Cadence, which enforces strict ownership rules. No one can accidentally spend your NFT. No one can duplicate it.

Flow’s biggest advantage? No gas fees for end users. The platform covers transaction costs. That’s huge for onboarding non-crypto users. NBA Top Shot sold millions of moments to people who didn’t know what a wallet was.

Flow also handles 10,000 transactions per second - far more than Ethereum ever could. But adoption is limited. Only 12 marketplaces support Flow NFTs. And while it’s great for sports and collectibles, it’s not as flexible for complex DeFi or gaming use cases.

Tezos and Other Standards: Niche but Important

Tezos uses the FA2 standard, which is unique because it supports formal verification - meaning math can prove the code is secure. That’s why artists and institutions worried about hacks prefer it. It’s also energy-efficient, using proof-of-stake.

But Tezos has a tiny market share - just 1.2% of NFT volume. Its tools are less developed, and most users don’t know how to use it. Other chains like Cardano (CIP-0025) and Polygon (MATIC) have their own standards too. Polygon’s NFTs run on Ethereum but with lower fees, making it a popular bridge for creators tired of gas wars.

Real-World Costs and User Experiences

Let’s talk numbers. In Q2 2023, minting a single ERC-721 NFT on Ethereum cost an average of $82.37 during peak times. On Solana? $0.00025. On Flow? $0.001. On Polygon? Around $1.27.

Users aren’t blind to this. On Reddit, people routinely share stories of spending hundreds on Ethereum gas - then switching to Polygon or Solana. One user, u/CryptoCollector88, said minting 10 NFTs on Ethereum cost him $823. On Polygon? $1.27. That’s not a typo.

But cost isn’t everything. Artists who sell digital art still prefer Ethereum. Why? Because that’s where the buyers are. OpenSea, SuperRare, and Foundation are all Ethereum-based. If you want visibility, you need to be where the traffic is.

What’s Next for NFT Standards?

The future isn’t about choosing one standard - it’s about using many. New standards like ERC-6551 (token-bound accounts) let NFTs act like wallets themselves. Imagine an NFT that holds your keys, your assets, and your identity - all in one. Early tests show it cuts complex transactions by 40%.

Cross-chain efforts are also gaining steam. The Blockchain Interoperability Alliance is working on a universal NFT metadata standard so your Solana NFT can be viewed on Ethereum wallets without conversion.

Enterprise adoption is growing too. Companies like Nike, Adidas, and Starbucks are experimenting with NFTs - mostly on Ethereum or private blockchains. But they’re asking the same question: “How do we make this work across systems?”

Which Standard Should You Use?

If you’re a creator:

• Want maximum exposure? Use ERC-721 on Ethereum.
• Need to mint 1,000+ NFTs cheaply? Go with ERC-1155 on Ethereum or Polygon.
• Targeting gamers or casual users? Try Solana or Flow.
• Building something complex with nested assets? Experiment with ERC-998.
• Concerned about carbon footprint? Tezos or Flow are your best bets.

If you’re a developer:

• Learn Solidity for Ethereum standards.
• Learn Rust for Solana.
• Learn Cadence for Flow.

And always use OpenZeppelin’s libraries. They’re battle-tested and reduce your risk of costly bugs.

Final Thoughts

NFT token standards aren’t just technical specs - they’re the foundation of digital ownership. They determine how much it costs to create an NFT, how easy it is to sell, and whether your asset will even be recognized by the tools people use.

There’s no single “best” standard. The right one depends on your goals: cost, speed, compatibility, or complexity. Right now, Ethereum dominates, but the future is multi-chain. The winners won’t be the chains with the most hype - they’ll be the ones that make NFTs work for real people, not just crypto enthusiasts.