Check ERC1155 vs. ERC721

[s0lness]

Overview

ERC-721 is the NFT standard but ERC-1155 can manage fungible & non-fungible

Acceptance criteria

• Review if we should go with ERC1155 standard
• also check Polygon compatibility

[gunvantk]

Polygon does supports ERC 721 and ERC 1155

ERC 1155 Advantages over ERC 721

• Less transaction cost (low gas)
• Ability to approve all token to address, no future approval needed on each transaction
• Ability to have NFT and fungible token in the same contract
• Ability to transfer multiple tokens in single transaction by bundling, this is helpful if our contract have different token types that we need to transfer on some event
• Saves on deployment cost since only one contract deployment required

If our project doesn't have more than one fungible token, we can go with ERC721 and ERC20 for simplification but 1155 seems solid choice.

[s0lness]

I'd go for 1155 just to be on the safe side. Thanks a lot for the investigation!