ERC-948 is a token standard on Ethereum specifically for representing various types of single-use digital assets such as tickets, vouchers, coupons, membership cards, etc.
ERC-948 was introduced by Ahmed Abdulla in June 2021 to enable the issuance of tokens representing single-use virtual assets on the Ethereum blockchain. Each token contains metadata that defines the asset type, provider, validity period, and terms & conditions.
Some of the main features of ERC-948:
- Represents a variety of disposable assets.
- Asset metadata is stored in tokens
- Business rules and validation for each token
- Role of issuer and token holder
Examples of ERC-948 usage in a sentence
“Our e-commerce platform supports an ERC-948 token-based shopping voucher system that is transparent and traceable on the blockchain.”
“Music event organizers issue concert ticket NFTs via the ERC-948 standard with various price tiers.”
“ERC-948 is suitable for restaurant customer loyalty programs that issue blockchain food discount coupons.”
Source:
https://crypto.ro/en/dictionary/erc-948/
