👉 This ERC specification defines an interface, which acts as an abstract layer on top of existing NFTs that we call a ‘proxy NFT’. A proxy NFT indexes a digital asset and tracks its various incarnations across different metaverse platforms, games and such. We call the individual representations of this digital asset on the various platforms ‘delegate NFTs’. The standard also allows for the ‘bundling’ and ‘unbundling’ of these delegate NFTs within the proxy NFT so holders can trade them individually or as a bundle.
👉 Currently, several metaverses and blockchain games (“platforms”) exist that use NFT standards such as EIP-721 and EIP-1155 for creating in-universe assets like avatar wearables, in-game items including weapons, shields, potions and much more. The biggest shortcoming while using these standards is that there is no interoperability between these platforms. As a publisher, you must publish the same digital asset (for example, a shirt) on various platforms as separate EIP-721 or EIP-1155 tokens. Moreover, there is no relationship between these, although they represent the same digital asset in reality. Hence, it is very difficult to prove the scarcity of these items on-chain.