What Is ERC-404?

ERC-404 is an experimental token standard that combines ERC-20 (fungible tokens) and ERC-721 (non-fungible tokens), allowing tokens under this standard to be both fungible and non-fungible at the same time. This works by bonding an ERC-721 token to an ERC-20 token, where an ERC-20 token only represents an NFT when it is a whole token. Once it is broken down into fractions for trading as an ERC-20 token, the NFT is burnt. When two complementary fractions (e.g. 0.4 and 0.6) are combined to form a full token, a new NFT is minted