Hybrid NFT standard combines ERC-20 and ERC-721 with low transaction fees

NFTs can become more resilient to market downturns with a hybrid approach that combines the best parts of ERC-20 and ERC-721 with lower gas fees.

1. makes them a challenge to integrate and add to a platform, even within the Web3 ecosystem. Most platforms and protocols are simply not equipped to handle the transactions and storage of NFTs, preventing NFT holders from enjoying the most common functions of decentralized finance (DeFi), such as lending, borrowing and yield farming.
2. Lack of control over NFTs
3. There are new standards, such as ERC-404, that aim to merge ERC-20 and ERC-721 qualities, but their approach doesn’t give enough control to users over the fractionalized NFTs they hold. For example, if the tokenholder has fractional ownership of multiple unique NFT artwork, they can’t pick which artwork they want to let go of while trying to sell it on a decentralized exchange (DEX).

Hybrid approach to ERC-20 and ERC-721

A hybrid approach that combines the strength of the two most common token standards — the ERC-20 and ERC-721 — has the potential to effectively address the NFT challenges, primarily the ones regarding fractionalization and liquidity. While there are already some experiments on the topic, these efforts still need to figure out how to deal with the ever-rising transaction costs of networks based on Ethereum Virtual Machine (EVM).
This is where HybridX emerges with its gas-efficient hybrid token, HX, combining the ERC-20 and ERC-721 standards. The unique blend introduced by HybridX aims to harness the strengths of both standards to offer efficiency and flexibility in the trading and management of digital assets of the broader Web3 ecosystem.

Fractionalized, low-cost NFTs

The hybrid HX token model allows for the fractionalization of NFTs to increase market liquidity, enabling users to buy and sell portions of NFT assets. The fractionalized NFTs can potentially become more accessible and appealing as digital asset investments for a wider demographic.
technology can be used to enhance decentralized applications on any blockchain.

Following the release of the HybridX Tools as a user-friendly interface for on-demand minting and burning of ERC-20 and ERC-721 tokens, the HX ecosystem aims to expand with a range of key Web3 milestones. The expansions include exclusive NFTs for HybridX members, the CrossPollinate program for incentivizing ecosystem projects, a launchpad powered by NFTs and a DEX for both fungible and nonfungible tokens.
As the blockchain-based internet continues to expand and evolve, HybridX envisions a fluid future of digital assets “where the values are seamlessly discovered and exchanged, fostering innovation and accessibility in the evolving Web3 economy.”