How to Create an ERC-6551 Token Bound Account for Your NFT
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The NFT standard has been around for several years now, and their use cases have been slowly developing since then. Most recently life has been brought back into NFTs thanks for ERC-6551.
This new Ethereum standard allows you to create a wallet for an NFT, which gives it the power to own other NFTs, cryptocurrencies, even interact with other smart contracts.
Of course this has huge implications for multiple industries, but what if you want to try it out for yourself? In this post we’ll show you how you can easily create a wallet for any ERC-721 NFT you own.
Connecting your wallet
First thing we’re going to do is visit tokenbound.org. This is the organization that created and proposed ERC-6551, and they have lots of tools to interact with it.
Once you visit the website you’ll want to connect your wallet with the button in the top right corner. Make sure to connect the wallet that has the NFT you want to create an account for. For this guide I’ll be using an NFT that’s on the Göerli test network.
Once you have connected your wallet you can click the “My NFTs” button.
Then you will see a grid of all your NFTs in your wallet. Go ahead and select one that you want to receive the wallet. Keep in mind it needs to be an ERC-721 NFT.
From this screen you can see if your NFT has a 6551 Token Bound Account (TBA). If there is not one present, you will see a button saying “Deploy Account.” After clicking it you will be prompted to sign a transaction with your wallet.
Once complete you can see the TBA address by visiting the site below, pasting in your respective NFT Contract Address, Token ID, and the chain ID.
https://iframe-tokenbound.vercel.app/<contractAddress>/<tokenId>/<chainId>
If you’re not too sure, from the Tokenbound.org page of your NFT, the URL will contain the smart contract address and the token ID.
The chain ID will depend on what network the NFT is on, and you can see the corresponding chain IDs with the blockchains they belong to here. Since our NFT is on Göerli the chain ID will be 5. So for this particular NFT the full url would be the following:
https://iframe-tokenbound.vercel.app/0x6a5c1bd3301ce086972bbbb7e1fd2220c4832437/33/5
Once you visit the site you should see the Tokenbound logo in the top right, which you will want to click on.
After clicking on it you will see the TBA address as well as any assets it may own. With that TBA address you can send NFTs, tokens, or crypto!
That’s it; a simple way to create a ERC-6551 wallet for your NFT. The possibilites could be anything from games where you character own items, or a boombox that has CDs it can play. We’re just seeing the beginning of possibilities for NFTs!
Want to learn more about ERC-6551 and minting NFTs?
Check out some of our other articles below:
H1 - THE RICH TEXT
EXAMPLE STARTS HERE
H2 - Enabling Widespread Adoption for Music NFTs
paragraph — The first thing the music industry needs is more exposure. For artists, listeners and yeah, the labels. Even with the use cases mentioned above, the majority of the music industry still sees NFTs as a novelty rather than a legitimate way to run a business. We see a future where the experience is built and monetized on the blockchain, with labels taking part of the experience, as well.
Second, there needs to be a big jump in user experience. Listeners know what to expect with Spotify and Apple Music: a smooth, intuitive experience that lets them listen to Lil Nas X with just a few clicks. Web3 platforms aren’t quite there. Music NFTs and related premium content require extra steps that most people don’t yet have an appetite for.
H3 - How Could Music NFTs Save Artists?
paragraph — Musician Daniel Allan spent months building a relationship with the NFT community and raised 50 ETH to fund his new album, Overstimulated. Companies like Audius and artists like Vérité's, who raised $90,000 in an NFT launch, are at the forefront of exploring new ways to get paid. Avenged Sevenfold launched an NFT collection called "Deathbats Club" with 10,000 items that grants holders access to benefits such as meet and greets at shows, lifetime free tickets, limited edition merchandise, and more.
H4 - Static and dynamic content editing
A rich text element can be used with static or dynamic content. For static content, just drop it into any page and begin editing. For dynamic content, add a rich text field to any collection and then connect a rich text element to that field in the settings panel. Voila!
H5 — How to customize formatting for each rich text
Headings, paragraphs, blockquotes, figures, images, and figure captions can all be styled after a class is added to the rich text element using the "When inside of" nested selector system.
LINK — This is how a link looks like. Please provide normal & hover state (if different than this)
- This will be bullet points
- Numbered list is the same but with numbers
- It has a margin-left applied
- Headings, paragraphs, blockquotes, figures, images, and figure captions can all be styled after a class is added to the rich text element using the "When inside of" nested selector system.
- Headings, paragraphs, blockquotes, figures, images, and figure captions can all be styled after a class is added to the rich text element using the "When inside of" nested selector system.
- Headings, paragraphs, blockquotes, figures, images, and figure captions can all be styled after a class is added to the rich text element using the "When inside of" nested selector system.
QUOTE — Everyone is obsessed with making money and seeking alpha, which does a disservice to what [NFTs] can actually do. We have been instructing many bands that NFTs are a ticket for access to an exclusive club.” - M. Shadows, Avenged Sevenfold’s lead singer.
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