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Choose between LSP7 or LSP8

This page provides guidance on which standard and combination to choose for your project. Both LSP7 and LSP8 coupled with the LSP4TokenType data key allow to create NFT collections on LUKSO. From simple to more complex!

Available Options​

There are 4 x main popular combination of LSP7 / LSP8 + the LSP4TokenType.

DescriptionStandardLSP4 Token Type
LSP7LSP8(0) Token(1) NFT(2) Collection
Fungible Token✓✓
"NFT-like" digital item with multiple ownable quantities✓✓
A collection of unique items✓✓
An "umbrella" collection containing multiple sub-collections✓✓

Fungible Token​

LSP7 Token Type Token (0)

Characteristics​

  • divisible (unless decimals() overwritten to 0).
  • 18 decimals by default (unless overwritten to have less decimals, like USDT for example which has 6 decimals).
  • The LSP4Metadata represents the metadata of the fungible token.

Example Use Cases​

  • a digital currency
  • a meme coin
  • a share in a com
  • a voting token.
  • a reward token.
  • a utility token.

Multiple Ownable Digital Items​

LSP7 Token Type NFT (1)

Characteristics​

  • Non divisible (decimals is 0).
  • Each items can't be uniquely identified by an ID in the collection. They are all the same.
  • All items share the same metadata. There is no metadata specific per item.
  • The LSP4Metadata represents the metadata of each item (they are all the same).

Example Use Cases​

  • a contract with 500 x digital t-shirts.
  • a contract with 1000 x digital tickets.

Standard NFT Collection​

LSP8 Token Type NFT (1)

Characteristics​

  • The LSP4Metadata represents the metadata of the whole NFT Collection.
  • All the NFTs live in the same smart contract.
  • Each NFT can be uniquely identified by a tokenId in the collection.
  • Each NFT can have its own custom metadata. This can be set via:
    • setDataForTokenId(...) for each NFT.
    • by setting the LSP8MetadataBaseURI and appending the tokenId to the base URI.

Example Use Cases​

  • a collection of unique watches with their serial number.
  • a collection of unique digital art pieces.

Collection of Sub-Collections​

LSP8 Token Type Collection (2)

Characteristics​

  • Each tokenId is a of LSP8TokenIdFormat of Address.
  • Each sub-collection is a smart contract that can be either an LSP7 or LSP8