ERC-1155 is a multi-token standard that allows the creation of fungible, non-fungible, and semi-fungible tokens all in one contract. The ERC-1155 token can do the same functions as an ERC-20 and ERC-721 token, and even both at the same time. It improves the functionality of both the ERC-20 and ERC-721 standards, making it more efficient and correcting obvious implementation errors. The ERC-1155 token is described fully in EIP-1155.
Connecting Your Wallet
Before engaging in trading ERC-1155 NFTs, it is crucial to connect your wallet securely to the Magic Eden platform. This connection enables smooth interactions with your ERC-1155 NFTs and ensures a seamless transaction experience.
Browsing ERC-1155 Collections
Navigate to the collection page of the desired ERC-1155 NFT collection. As an example, let's explore the Boomland - Shards collection.
To check whether an NFT is ERC-1155, all you have to do is check the Details tab on the bottom left of any item details page.
Buying an NFT
Select the specific type of NFT you wish to purchase, such as the Engineer Shard - Common.
Once you land on the item details page of the NFT, choose the quantity of how many you would like to purchase, and click "Buy Now".
The supply of how many tokens are available to purchase is next to the listed price.
Additionally, you can purchase the NFT using Moonpay.
Furthermore, upon navigating below the NFT image, you will see the NFTs listed by users, along with their respective quantities.
Selling an NFT
To list the ERC-1155 NFT, specify the quantity of tokens intended for sale and enter the corresponding unit price.
Delisting an NFT
To delist a listed ERC-1155 NFT, navigate to the item-details page of the NFT and you will find 'Cancel listing of items', after clicking this, sign the transaction to delist the NFT.
Additionally, you can cancel the listing underneath the NFT image on the item-details page, under "Listings", following the same flow as above.
ERC-1155 tokens offer greater efficiency and flexibility in managing various types of assets, such as in-game items, digital collectibles, and more, by allowing multiple token types to be bundled together within the same contract, thus reducing the overhead of deploying separate contracts for each token type. This standard has gained popularity due to its ability to streamline development and reduce gas costs on the Ethereum network.
Commence your expedition into the realm of ERC-1155 NFTs today with Magic Eden!