ERC-884 is a token standard on Ethereum that allows the creation of multi-token standards with multiple rights and values in one smart contract.

ERC-884 was introduced by Yoni Assouline in April 2018 to enable more advanced crypto token use cases. This standard allows tokens to be lowered or upgraded in tiers or layers based on established rules. 

Some of its main features are:

Support multiple tier tokens in one contract.
Burning and minting mechanisms between token levels
Management of token supply according to level
Use cases: blockchain gaming, loyalty, layered tokens, etc.

 

Examples of ERC-884 usage in a sentence 

“Our gaming platform applies ERC-884 to create tiered NFT equipment tokens ranging from common to legendary.”

“The ERC-884 standard makes it easy to develop customer loyalty point systems using tiered exchangeable crypto.”

“With ERC-884, our startup creates a tiered utility token to manage user access to various platform features and activities.”

 

Source:

https://www.bitdegree.org/crypto/learn/crypto-terms/what-is-erc-884