(Alliance News) – Coinsilium Group Ltd on Monday said its new ‘Multiverse’ non-fungible token standard ERC-5606 has completed the Ethereum community approval process, becoming the ERC-5606 NFT standard.
ERC-5606 is a new standard for NFT creation on multiple metaverses, Web3 games and platforms, with the tokens representing unique assets across virtual worlds, “enabling interoperability between these worlds”, Coinsilium said.
The Gibraltar-based Web3 investor, advisor and venture builder said the NFT standard was developed by Metalinq, a project backed by Coinsilium, with an Ethereum improvement proposal submitted in September last year.
The company said the new Multiverse standard is a “significant contribution” towards creating interoperable Web3 infrastructure on the Ethereum blockchain, and is fully compatible with the most popular NFT standards ERC-721 and ERC-1155.
Chief Executive Officer Eddy Travia said: “This is a very significant development for Metalinq in its efforts to accelerate the mainstream adoption of blockchain-based metaverses and Web3 gaming…