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ERC-1155
ERC-1155 is an Ethereum standard that lets one contract manage many kinds of token at once—some interchangeable like coins, some one-of-a-kind like NFTs. Each kind has its own ID, and several can be sent in one batch transfer, which costs less in fees than sending them separately.
What it means for you. An ERC-1155 item can have a supply of more than one, so owning a given token ID may mean holding one copy among many rather than a unique piece; check the supply for that ID. As with ERC-721, setApprovalForAll gives one address control of every token you hold in that contract.
Source: EIP-1155: Multi Token Standard · checked 4 October 2026
ERC-721
ERC-721 is the Ethereum standard for non-fungible tokens, where each token is one of a kind. Every token has its own ID number inside its contract, and the standard defines how to look up its owner, transfer it, and point to a description of what it represents.
What it means for you. The token usually points to its image or file through a link (the tokenURI) rather than holding it; if that link goes offline, the picture can vanish while you still own the token. The setApprovalForAll function hands one address control of every token you hold from that contract, so granting it to the wrong address can cost you all of them.
Source: EIP-721: Non-Fungible Token Standard · checked 4 October 2026