ERC 1155 Token Standard

Question

I have read about ERC 1155 that how it can be used to mint both fungible(ERC20) and non-fungible(ERC721) tokens. So my question is:

1. Fungible tokens that we mint using ERC1155 will have exact same functions as a token minted from ERC20 contract will have or more functions can be added in it from ERC721 standard?
2. I guess what I mean is that can functions of ERC20 and ERC721 be mixed to create kind of a semi fungable token?

Answer 1

ERC 1155 can be used to create semi-fungible tokens.

You can see this by checking the ERC 1155 docs: https://eips.ethereum.org/EIPS/eip-1155

The Simple Summary states: "A standard interface for contracts that manage multiple token types. A single deployed contract may include any combination of fungible tokens, non-fungible tokens or other configurations (e.g. semi-fungible tokens)."

Note: It would have been better to post this question on the Ethereum Stack Exchange.

Answer 2

ERC1155 supports both ERC20 and ERC721. It is usually used in game applications.

In gaming, gold, iron, or gem are exchanged by the game players so those should support ERC20. They are fungible because they are interchangeable. But swords, spaceships, knights, or shields are implemented as ERC721. There can be many of them, so they are called collections but since they are not interchanged they are implemented as ERC721.

It would cost too much to run two different smart contracts. There would be alot of transactions between those two contracts. That is why ERC1155 is created