ERC-20 tokens
Once you've got an understanding of these concepts, you can launch your own ERC-20 token with our tailored guide series.
What is an ERC‑20 token?
At its core, an ERC‑20 token is a type of digital asset that implements a specific token standard on an Ethereum Virtual Machine (EVM) compliant blockchain. This standard ensures that all tokens adhere to a common set of rules, which facilitates seamless interactions between different tokens, wallets, and smart contracts.
The ERC-20 standard is considered to be the industry standard for fungible tokens such as digital currencies. In this context fungible means that any 1 unit of an ERC-20 token has the same properties and value as any other 1 unit of the same ERC-20 token. They can be considered identical and interchangeable.
In this way ERC-20 tokens differ from ERC-721 and ERC-1155 which are known as Non-Fungible Tokens (NFTs). Non-Fungible in this context means that any 1 token in an NFT collection has its own unique properties and value, and is not interchangeable with any other token in the collection.
Why launch an ERC‑20 token for your game?
Launching an ERC‑20 token can offer numerous advantages that enhance your game's ecosystem and player experience.
In-Game currency and assets
Game studios can use ERC‑20 tokens as their in-game currency, enabling seamless and fast transactions between players and the game environment. Players can also easily buy, sell, and trade in-game items with your ERC‑20 token, which can be securely transferred and recorded on the blockchain.
Economic incentives
Game studios can implement a token-based reward system to incentivize player engagement and loyalty. Tokens can be earned through game play achievements and redeemed for various perks or items. They could also implement a buy-in model where players purchase tokens to access premium content, participate in exclusive events, or unlock special features.
Governance and fundraising
By incorporating a token-based governance system, you empower your community and create a more democratic and transparent decision-making process. Depending on the legislation in your country it may also be possible to use your ERC‑20 token as a fundraising mechanism for your game studio.
Immutable product suite
Our rapidly expanding product suite makes it easy to use your ERC-20 across the Immutable zkEVM ecosystem. From player onboarding with Passport to selling your collection directly to the public with our Primary Sales Widget, we are building the best-of-class experiences to unlock game studio success at speed.
How do I launch an ERC‑20 token on Immutable zkEVM?
To get started, navigate to our ERC-20 guides collection.