Injective has partenred with DEX DojoSwap to introduce the CW-404 standard.
21 Feb 2024
1 min read
Layer 1 blockchain Injective introduced the CW-404 standard, a replica of the wildly popular experimental token standard ERC-404
ERC-404 is an unofficial Ethereum token standard that allows multiple wallets to directly own a single non-fungible token (NFT) and gives its holders the ability to create a use case where that specific exposure can be tokenized and used to take out loans or stake holdings.
The “experimental" standard brought in millions of dollars worth to the Ethereum ecosystem but has also been criticized for referencing the official “ERC” name. As a category, ERC-404 tokens are collectively worth over $173 million, data from CoinMarketCap shows, despite having been released just over two weeks ago.
The CW-404 is a way for Injective to bring some of the investment from Ethereum to its own network. CW404 is set to spawn a legion of new dApps and innovations that are simply not possible anywhere outside of Injective
The Sushi Fighter NFT collection is the first to utilize the CW-404 standard on Injective, featuring generative profile pictures and custom minting logic
