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Understanding NFTs from EIP Standards

This preprint provides a comprehensive technical overview of the evolution of NFTs by examining the progression of Ethereum Improvement Proposals (EIPs). The au

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Abstract

This preprint provides a comprehensive technical overview of the evolution of NFTs by examining the progression of Ethereum Improvement Proposals (EIPs). The authors categorize NFT standards based on their core functionality—transferability, multi-asset support, fractionalization, and rental capabilities. By analyzing the source code and design principles of key EIPs, the paper clarifies how the Ethereum ecosystem has built a modular stack for non-fungible digital assets. The analysis helps developers navigate the complex landscape of available standards, identifying the appropriate technical implementations for specific use cases such as gaming, identity, or financial instruments. This paper serves as an essential reference for understanding the structural design of the NFT ecosystem and the rationale behind the technical decisions that have driven the recent expansion of blockchain utility beyond simple ownership. Authors: Mingsheng Qi, Zhuo Zhang, Lei Wu, Zhiqiang Lin Publication: arXiv preprint Publication date: 2025-01-01

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Key findings

  • EIP standards form a modular, layered stack that enables complex NFT functionality.
  • Standardization is the primary driver of interoperability between disparate blockchain applications.
  • The shift from monolithic to modular standards reflects the growing complexity of NFT use cases.
  • Developer adoption of EIPs significantly reduces the risk of security vulnerabilities compared to proprietary token designs.

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Citation

Mingsheng Qi, Zhuo Zhang, Lei Wu, Zhiqiang Lin (2025). Understanding NFTs from EIP Standards. arXiv preprint. https://arxiv.org/abs/2508.07190
Canonical knowledge ID: research:understanding-nfts-from-eip-standards