Binance has announced the introduction of support for the ERC-404 token standard into its crypto wallet. This standard, developed for the Ethereum network, combines the features of two previous standards, ERC-20 and ERC-721, in order to create a single format for interchangeable and non-interchangeable tokens (NFT). Due to this combination, each ERC-404 token has the properties of both types of tokens.
The trading volume of such assets on decentralized exchanges and NFT platforms has reached a significant $105 million mark. The growing interest of traders in ERC-404 tokens was the result of the launch of the Replicants collection from Pandora.
This news followed Binance's integration of 19 new dApps into their Web3 crypto wallet. This will allow the platform's clients to interact with applications from projects such as Dodo, Maverick, Radiant Capital and many others.
Recall that in November 2023, Binance introduced a new product — Web3 Wallet, which supports independent asset storage and multi-party computing (MPC) technology.
It is also worth noting that Binance has expanded the list of supported networks by adding Bitcoin, Bitcoin Cash, Litecoin, Dogecoin and Sei blockchains to its Web3 Wallet.
