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.
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:
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:
A New Era: ERC-6551 and Token-Bound Accounts (TBAs)
How to Mint an NFT on Base
How to Mint an NFT with APIs
How to Create Generative Art NFTs
July 26, 2023
Ready to shape the future?
Explore our plans