Step by step guide on how to create an ERC-6551 account for NFTs.

With the ^ERC-6551 concept project winning four spots in the finals at ^ETHGlobal Waterloo (see "11 ETHGlobal Waterloo Hackathon Finalist Projects"), discussions around this new token standard are gaining momentum.

There have been many interpretation articles on ^ERC-6551 available in the market (such as "Understanding ERC 6551: NFT and DID New Paradigm"), so I won't go into too much detail here.

In short, ^ERC-6551 is a new token standard released by the Future Primitive team on May 23rd. It supports creating "Token Bound Accounts" (TBA) using NFTs, which means using NFTs as wallet addresses or on-chain accounts, truly achieving "NFT as a wallet".

Although ^ERC-6551 is gaining popularity, the number of accounts created based on this standard on the Ethereum mainnet is actually not that high. According to data analysis platform ^sealaunch.xyz's charts compiled on Dune, as of the time of writing, there are only 1708 accounts created based on ^ERC-6551, with nearly half of them (709) created on July 4th.

Next, we will guide you step by step on how to use your own NFT to create a TBA account, turning your NFT into a real "wallet".

First, we can choose to use the creation tool provided by Fast Dapp.

The creation process is actually very simple. After connecting your wallet, you only need to fill in two lines of information: the integrated contract address for the NFT series, and the specific number of the individual NFT in that series.

The above two data can be easily found in the OpenSea interface.

Take the Zorb ball NFT that many users have chosen as an example (maybe it's cheap...of course, you can choose other NFTs), after opening the NFT in OpenSea, click on "Details" in the lower left corner of the interface to see relevant information.

Copy the relevant information into Fast Dapp, and then click on "CREATE THE ACCOUNT" below to create a TBA account.

Next, we need to confirm the relevant transactions in the wallet. Based on the current gas price of around 45 GWEI, it will cost about $14.

After the transaction is completed, the NFT you selected becomes a TBA account and has the attribute of a "wallet". Since the number of users currently using this operation is not large, you can find your own record of creating the TBA account in the historical records of Fast Dapp.

So, after creating the TBA account, what else can we do?

Um, unfortunately, there is not much we can do now. Open the TBA account management page provided by Future Primitive (ERC-6551 development team), and directly search for NFT + number to access the TBA account we just created.

After entering a specific page, you can see the detailed holdings of two types of assets under the account, such as "Collectibles" and "Assets" (now definitely there's nothing...), which means you can deposit other NFTs or even ERC-20 tokens into the TBA account of this NFT.

However, unfortunately, the function "Use Wallet" to operate the TBA account on this page is currently not available on the mainnet. Interested users can try it on the Goerli test network.

In conclusion, ERC-6551 is still in a very early stage, and the tutorial for creating a TBA account mentioned above only covers the most basic operational experience.

However, according to Future Primitive's description, many teams are already creating related tools around ERC-6551, and as this concept becomes more popular, the experience around TBA accounts is expected to be greatly optimized in the future.