Mr.

William Entriken

Jr.
Pronunciation/ˈɛn.trə.kɪn/
Born
William Entriken

(1984-06-06) June 6, 1984
Other namesWill, Fulldecent
EducationBennett S. LeBow College of Business, Drexel University M.S. in Finance, MBA in Investment Management
Occupation(s)Solutions Architect, Civic Hacker, Cybersecurity Specialist, Financial Analyst, General Manager
Years active2008–present
Known forPioneering the foundation of NFT eco-system
Notable workERC-721: Non-fungible Token Standard
Title
  • Lead author of ERC-721
  • Technical advisor to EY, TronDAO, Arianee
  • General Manager at Pacific Medical Training
SpouseSu Entriken
Parent
  • Bill Entriken (father)
Websitephor.net

William (Will) Entriken (born June 6, 1984), also known by the online moniker Fulldecent, is a solutions architect, cybersecurity specialist, financial analyst, general manager, and civic hacker best known for his contributions in blockchain technology and open sourced solutions. He is recognized as the lead author of the landmark Ethereum paper ERC-721: Non-Fungible Token Standard,[1] published in 2018. This paper is recognized for pioneering the foundation of the digital collectibles eco-system by establishing a programming standard called "ERC-721" to create NFTs (a type of digital “deed” to prove ownership of assets) via smart contracts on Ethereum.[2] It also first formalized and defined the term Non-Fungible Token (NFT) into blockchain nomenclature[3] which was made popular by the blockchain game CryptoKitties; the CTO of that game, Dieter Shirley, is also a fellow co-author of the published paper.[4]

His contributions as a civic hacker local to his community in Philadelphia has earned him recognition including from an open source project supporting the SEPTA train system.[5] As a cybersecurity professional he has actively collaborated with Apple, FINRA, SEC and the FBI and currently holds an active Department of Defense Security Clearance.[6]

Personal Life & Education

William Entriken was born on June 6, 1984 in the Greater Philadelpha area where he resides today.[7] He is married to Su Entriken, and together they run a boudoir photography studio in the Philadelphia area.[8]

Entriken earned a BS in Computer Science with Dean’s List honors from Villanova University. At Villanova he was the top scorer in the William Lowell Putnam Mathematical Competition and worked in an apprenticeship where he programmed control modules for U.S. Navy Warships.[9] He later continued his education at Drexel University, earning an M.S. in Finance and an MBA in Investment Management in 2008.[10] He is also a member of Mensa and is fluent in Mandarin with an HSK level 4 certification.[11]

Career

Entriken is currently the general manager at Pacific Medical Training which provides online medical training.[12] His diverse career spans various roles across business, finance and technology including work as a solutions architect, a software developer at Google, a financial analyst for CDI Corp completing Mergers & Acquisitions, a consultant for Big Four's Ernest & Young, and a cybersecurity specialist collaborating with Apple and protecting retail investors' accounts with FINRA, SEC and the FBI.[13]

Civic Hacker in Philadelphia

Entriken has been noted for his contributions as a civic hacker in the Greater Philadelphia area, focusing on projects that aim to enhance public access to data and improve government accountability.

SEPTA Real-Time Tracking

In 2008, Entriken developed a web application that compared the actual arrival times of SEPTA trains in Montgomery County to their scheduled times. He was quoted by NBC Philadelphia News as saying that the trains’ lateness was “every day and usually by 15 minutes or more.” The application was updated in 2012 to collect real-time data for 13 SEPTA regional rail lines. While SEPTA's Chief Control Center Officer acknowledged the app as "a nice little tool," he also cautioned how tracking real-time train times was “a very delicate balancing act.” Another official at SEPTA was also quoted as saying “it’s good for guidance, but that it should not be your only source for train information.”[14]

Philadelphia Traffic Court Data

In 2014, Entriken sought to investigate Philadelphia traffic court cases concerning "3111 violations." He was provided a quote of $11,200 by Xerox, the firm responsible for managing the court's data, as the cost to develop a program that could scan and identify all relevant cases within the database. In an attempt to cover this expense, Entriken initiated a Kickstarter campaign, but it ultimately fell short of its financial target.[15]

EZpass “V-Toll” Disputes

After incurring $300 in “V-toll” charges from the Pennsylvania Turnpike in 2019, Entriken developed a web application to simplify the appeals process for such charges and made it publicly available for others to use. The application fills in the necessary appeal forms automatically. “It’s one line of code that works on Safari and Chrome. It took me a half hour to write. It fills in the entire five pages” he was quoted as saying in the PhillyVoice. Entriken also filed Freedom of Information Act requests to analyze V-tolls over several years but was ultimately denied access to the data.[16]

Cybersecurity

In 2020, Inc Magazine reported that William Entriken broke a non-disclosure agreement to bring attention to a cybersecurity vulnerability he allegedly discovered in 2008 at stock-trading firm Zecco (now TradeKing). Entriken claimed unauthorized trades could be initiated from accounts without the proper credentials via certain URLs. He publicly stated the firm did not address the vulnerability despite him reporting the issue.[17]

Blockchain

Entriken has participated in the authorship of five peer-reviewed, open source papers known as EIP's (Ethereum Improvement Proposals), also called "ERCs" (Ethereum Request for Comment). He is most notably the lead author of ERC-721: Non-Fungible Token Standard that pioneered the foundation of NFTs and catalyzed the digital collectibles eco-system.[18] Entriken is also among only two other authors including Ethereum co-founder Vitalic Buterin to have successfully published an EIP in the "Informational" category via EIP-2228 and EIP-2982, respectively.[19] Through EIP-2228, Entriken proposed a formalization of the term "Mainnet" in regards to Ethereum's "network ID 1 and chain ID 1" that had been referred to inconsistently by other names such main chain, main-net, main net and Ethereum's Main Network.[20]

As a public speaker, he has taken the stage at conferences such as NFT.nyc, NFT Tallin and Chain76 (which he hosted).[21]

Entriken is a technical advisor to the Tron DAO, Big Four accounting firm Ernst & Young, and NFT fashion company Arianee.[22]

In 2023, he advocated for positions of how to tax certain digital assets in front of a panel of persons in the IRS and Department of the Treasury.[23]

Book Author

In 2021, Entriken self-published Nineteen Eighty-Five which is a modernized translation of the classic 1984 dystopian novel. Instead of authoring the rendition of the novel directly, Entriken authored a Perl script program to automatically replace certain keywords in the original novel with his choice of relevant modern substitutions in order to parallel the storyline with contemporary references. The book is available internationally, however, it is not available in the US due to copyright reasons.[24]

ERC-721: Non-Fungible Token Standard

ERC-721: Non-Fungible Token Standard is a peer-reviewed and open source paper codifying a standard for non-fungible tokens on Ethereum, published in 2018 by lead author William Entriken and co-authors Dieter Shirley, Jacob Evans, Nastassia Sachs.[25] It is regarded as a foundational and pioneering work that formally introduced the NFT concept, the word "Non-fungible Token" and catalyzed the digital collectibles eco-system.[26] Though written for Ethereum, the standard is also utilized on the Polygon blockchain.[27]

An ERC stands for “Ethereum Request for Comment” and is in essence a discussion thread on GitHub for open source contributors to collaborate on problem-solving and refining ideas to improve Ethereum. The goal of an ERC is to create solutions that have recognizable utility for the Ethereum eco-system to adopt, and if the solution within a thread has significant perceived utility, it is formalized and peer-reviewed in a rigorous manner by others in the community. After peer-review, the ERC is either published as a completed paper or rejected for further revision.[28]

For clarification regarding the terminology, the term "ERC-721" may have (4) common references when used:

(1) The published paper: The peer-reviewed published paper from 2018 whose full title is ERC-721: Non-Fungible Token Standard.[29]

(2) The GitHub thread: The conversational threads on GitHub during the ERC drafting process prior to the paper's publication, which are still viewable today. It's important to note that, similarly to early drafts of literary works, these threads may contain ideas and discussions that did not make it into the final standard or published paper.[30]

(3) The codified standard itself: the actual set of rules and instructions, like a recipe, that explain how smart contracts should work to effectively create NFTs, which to written in the published paper.[31]

(4) NFTs compliant with the ERC-721 standard: Any non-fungibe tokens that are made to be compliant with the ERC-721 standard.[32]

Predecessor “NFT” Digital Collectibles

The concept of blockchain digital assets that could be owned and have the property of non-fungibility pre-dated ERC-721 with projects like Colored Coins on Bitcoin in 2012.[33] Among the earliest known artwork NFTs, in 2014 artist Kevin McCoy created the visual work Quantum on the Namecoin blockchain[34] (a fork of Bitcoin). In 2017 just prior to ERC-721’s publication, Larva Labs launched the CryptoPunks NFT project on Ethereum using ERC-20 (a fungible token standard). CryptoPunks is regarded as one of the most famous and commercially successful generative art NFT collections [34] and served as a direct inspiration for ERC-721’s initial creation.[35] Projects prior to ERC-721 were not recognized as utilizing the term “NFT” in their nomenclature.[36]

Formalizing and Defining "NFT" in a Standard

The decision to formally include the word choice of NFT / Non-fungible Token in the final publication was made after Entriken held a vote among the stakeholders involved for the possible words they believed would be best to use in reference to the concept.[37] The word deed was considered among other alternatives such as distinguishable asset, title, token, asset, equity, ticket.[25]

The general purpose of NFT's in the paper centers around ownership of both physical and digital things.

NFTs can represent ownership over digital or physical assets.

— Entriken et al, ERC-721:NFT Standard

Non-fungibility's uniqueness aspect is emphasized and illustrated for its importance around the property of effective ownership.

In general, all houses are distinct and no two kittens are alike. NFTs are distinguishable and you must track the ownership of each one separately.

— Entriken et al, ERC-721:NFT Standard

The technical specification of non-fungibility in the ERC-721 standard is recognized as being defined through a token ID and contract address.[38] As stated in the standard:

Every NFT is identified by a unique uint256 ID inside the ERC-721 smart contract.

— Entriken et al, ERC-721:NFT Standard

ERC-721’s first co-author, Dieter Shirley, was the CTO of the pioneering blockchain game CryptoKitties and he made the decision to utilize an early version of ERC-721 in the game prior to its final publication.[39] Through this game using ERC-721, the term NFT became first popularized in the nomenclature of digital collectibles.[40]

ERC-721’s Initial Development with Dieter Shirley

Dieter Shirley, the CTO of Dapper Labs responsible for the blockchain game CryptoKitties, in 2017 initiated the creation of ERC-721 through a first draft proposal.[41] He posted the problem of tracking non-fungibles along with a solution serving as an alternative standard to ERC-20 (a fungible token standard and the primary one used at the time).[42] His efforts were directly inspired of the ERC-20 token and generative art project CryptoPunks.[43]

I took a look at their smart contracts [CryptoPunks] to try and figure out what the best way to sort of generalize the concept of non-fungibility.

— Dieter Shirley, Jimbo Chats w/ ERC721 Creator Dieter Shirley About the Technical Origins and Future of Web3

Conversations about non-fungibility and the token standard issue emerged internally within Dapper Labs that motivated Shirley's initial efforts to create the first draft of ERC-721.

Everyone kept talking about ERC-20 and like ‘how do we make the CryptoKitties ERC-20 compatible’. I'm like ‘you guys are crazy, they're non-fungible, we can't make them work with the ERC-20’. And then I wrote ERC-721 first draft … then ultimately it was a community product when it was finalized,

— Dieter Shirley, ZK Podcast: CryptoKitties, Dapper Labs and Flow with Dieter Shirley

The ERC process began with very little fanfare and had limited interest initially, but after the launch of CryptoKitties in 2017, it began sparking more attention.

We put together a draft, we published it, we asked for feedback, I sent some emails to some people who you know seemed to be doing something you know sort of on similar directions. But there weren't very many so we had hardly any feedback and so no one was like saying much about it. So we published CryptoKitties and, of course, then everyone had, you know, all the all the energy in the world to nitpick our ideas and provide suggestions for how 721 should be.

— Dieter Shirley, ZK Podcast: CryptoKitties, Dapper Labs and Flow with Dieter Shirley

Entriken’s Emergence as Lead Author

Entriken had been working independently on a project named after his wife, called Su Squares, directly inspired of the Million Dollar Homepage.[44] He encountered a technical obstacle around how he would be able to effectively trade and auction the assets. Entriken searched the internet and discovered the ERC-721 draft which appeared to be a promising solution for his needs[45] and intrigued him about the potential for additional use cases.[46]

I saw CryptoKitties, I saw the pictures of the cats and I was very inspired because I saw a lot more.

— William Entriken, William Entriken, Lead Author of ERC-721 - NFT Standard, Talks to NFT Prodigy Benyamin Ahmed

He reached out to Dieter Shirley, but he was occupied with CryptoKitties as it was experiencing immense growth,[47] so Entriken forked the draft to pursue completion of ERC-721 through his own initiative.[45]

He [Dieter] started this project and he had two things going on. He had CryptoKitties and the specification [paper] of telling other people how to make NFTs. And these are both cool projects and one of them kind of got a lot of attention and required a lot of work, quickly. That was CryptoKitties, it basically blocked Ethereum network... just so many people were using it, it literally just took down Ethereum... so that kind of became his focus and ERC-721 was not.

— William Entriken, William Entriken, Lead Author of ERC-721 - NFT Standard, Talks to NFT Prodigy Benyamin Ahmed

Entriken had not participated in a blockchain project prior, and he entered the ERC process during a time where there was significant lack of consensus and competing solutions for how non-fungible tokens should be standardized on Ethereum.[48]

So really the process here was a little bit technical like making it work and testing, and that was half of it. The other half was entirely political, getting people to agree and to adopt this.

— William Entriken, The Genius Behind ERC-721: William Entriken on NFTs and Blockchain

He believed that having multiple competing standards emerging simultaneously was "unacceptable" at the time. He resolved to rally the different parties together for a single standard and pitched himself as the lead author of this collaborative effort.[46]

I said I'm going to work hard, I'm going to get this passed quickly and I'm not going to get everyone to agree but I will at least hear everybody. Hearing’s an important value proposition and that was it. Once I said those three things, basically I self-nominated, or whatever the voting or consensus mechanism is, they put my name at the front of the paper. That's what happened and got other people to work with me as opposed to want to compete with me. That was the selling point. That's how you become the lead author of a paper you didn't start.

— William Entriken, William Entriken, Lead Author of ERC-721 - NFT Standard, Talks to NFT Prodigy Benyamin Ahmed

Upon establishing a leadership role in authoring the standard, he effectively liaisoned himself to the parties involved by offering his contact information and ensuring his availability to communicate and discuss ideas. Ultimately, the results of the collaborative efforts to iterate and improve the standard in consensus lead to the publication of ERC-721: Non-Fungible Token Standard in 2018.[48]

So by talking to people on the phone, making drafts constantly, I was able to navigate this, not to the best product, not to how I would have wrote it myself, not to the thing that everybody needed, but instead to the thing that had zero dissent and was good enough to publish and as fast as possible. And that was the product. Delivered fast with everybody agreeing, and it's been around and it'll be around for years and it unlocked what we got.

— William Entriken, The Genius Behind ERC-721: William Entriken on NFTs and Blockchain

Initial Adoption

CryptoKitties

The blockchain game CryptoKitties by Dapper Labs of which the CTO Dieter Shirley is a fellow co-author of ERC-721, is recognized as the earliest pioneering and popular instance of the ERC-721 standard,[49] though it was technically using an experimental version that differed from what was included in the standard's final publication.[50] CryptoKitties is regarded as among the first NFT applications to achieve widespread adoption, earning millions of dollars initially and taking up to 70% of Ethereum's usage capacity at its height in some moments.[51]

Su Squares

Launched in 2018 by Entriken and inspired by the Million Dollar Homepage, this NFT project is the first fully compliant demonstration of the ERC-721 NFT standard.[52] It was introduced after the release of CryptoKitties, which had utilized an earlier version of the standard before it was finalized.[50]

MetaMask Wallet

Cryptocurrency wallet MetaMask integrated functionality to enable the holding and transferring of ERC-721 tokens based on CryptoKitties popularity.[39]

NFT Marketplaces

In 2017, one of the earliest and most successful NFT marketplaces, Open Sea, was launched by co-founders Alex Atallah and Devin Finzer who intended to capitalize off of the emergence of ERC-721 NFTs on Ethereum. They initially focused on capturing the market activity around the blockchain NFT game CryptoKitties, which was one of the first use cases of ERC-721, and ultimately planned to scale the platform for other emerging projects utilizing it.[53]

With the introduction of ERC721, it felt like such an idea was possible for the first time.

— David Finzer, How one company took over the NFT trade – The Verge

The NFT marketplace SuperRare also emerged in 2018 to enable trading of tokens of this standard.[54]

Legacy

ERC-721 emerged as the first mainstream NFT standard to gain widespread acceptance and popularized the term "NFT" in the nomenclature.[55] It brought significant attention to Ethereum, showcasing the platform's capabilities beyond just financial applications.[54] It inspired the creation of derivative standards on Ethereum and other blockchains, demonstrating its far-reaching influence.[56] ERC-721 catalyzed the development of a multi-billion dollar ecosystem,[57] encompassing a diverse range of digital assets and applications.[58] It became a versatile vehicle for pioneering numerous use cases, including digital artwork, deeds to physical items, virtual real estate, access passes, and game assets.[59] By formalizing and defining the concept of Non-Fungible Tokens,[60] ERC-721 fundamentally changed the landscape of digital verification, authentication, and ownership.[61] This standard represents a paradigm shift in how digital assets are perceived, owned, and transacted, reshaping the digital world's understanding of value and ownership.[62]

Influence of Work

The influence of the paper ERC-721: Non-Fungible Token Standard that Entriken lead authorship of spans across various sectors, profoundly shaping the landscape of digital collectibles and the use cases within the broader NFT eco-system.[59]

Art World

ERC-721 was awarded rank #1 in ArtReview's Power 100 in 2021 indicating it as "the most powerful art entity in the world" and being the first non-human entity to be ranked as such.[63] The Guardian quoted the review for ERC-721 having "given rise to a whole new generation of collectors and allowed artists to find ways around the traditional gatekeepers of the market."[64]

Beeple's Everydays: The First 5000 Days

In 2021, artist Beeple sold an ERC-721 NFT known as Everydays: the First 5000 Days at Christie’s auction house for $69,400,000 (paid in Ethereum’s native cryptocurrency Ether).[65] It is currently the largest single NFT transaction in history, and the first notable NFT offering by a legacy auction house.[66]

Digital Collectibles Infrastructures

NFT marketplaces Open Sea, Rarible and SuperRare built their operations to transact ERC-721 NFTs.[54]

In 2021, cryptocurrency exchange Coinbase announced it was creating an NFT marketplace platform to compete with Open Sea that included support for ERC-721 tokens.[67]

Fortune 500 Adoption

In 2022, Meta announced NFT support for Instagram for the Ethereum and Polygon blockchains that included the ability to create and sell ERC-721 tokens, referring to them as “digital collectibles.”[68] Support ended in 2023 to focus on other initiatives.[69]

In 2022, Twitter (rebranded currently as X) announced support for Ethereum ERC-721 NFT images to be utilized as profile pictures for Twitter Blue subscribers.[70]

Real Estate

A 3-bedroom house in South Carolina was sold for the value of $175,000 through the purchase of an ERC-721 NFT on Ethereum. The NFT effectively acted as a deed for the house in that ownership of it entailed ownership of the house.[71] Applications extending off of ERC-721 for real estate have been proposed including for smart home rentals.[72]

High Profile Projects

Numerous NFT projects receiving mainstream press coverage have utilized the ERC-721 standard to create NFTs on both the Ethereum and Polygon blockchains. While the term “ERC-721” is cited explicitly in some press coverage, it is not always cited but a project’s usage of it can be verified through an Ethereum blockchain explorer which will identify if a specific NFT is in fact an ERC-721 token; NFT marketplaces may also display blockchain explorer information.[73]

Jack Dorsey’s First Tweet

In 2021, Jack Dorsey created an ERC-721 NFT on the Polygon blockchain of his first tweet on Twitter which he sold at auction to Iranian-born crypto entrepreneur Sina Estavi for $2.9 million.[74] A year later, Estavi listed the NFT for auction for approximately $50 million (priced in Ethereum’s native cryptocurrency Ether), but received bids for less than 99% of the value he paid for it.[75]

Bored Ape Yacht Club

Launched by Yuga Labs in 2021, Bored Ape Yacht Club (BAYC) is an ERC-721 based NFT collection on Ethereum featuring 10,000 images of cartoon apes that are procedurally generated by an algorithm. These ERC721 NFTs are often seen as "status symbols" to own.[76] The NFTs function as a membership card to the Yacht Club and an access token to unlock perks and member-only channels. According to Yuga Labs, NFT holders have full commercialization rights to their ape.[77] Over 20 celebrities own or have owned BAYC NFT including Paris Hilton, Justin Bieber, Shaq, Snoop Dogg and Mark Cuban.[78] Stakeholders involved including Yuga Labs, some celebrity promoters and art auctionhouse Sothebys have each been involved in different lawsuits around the sale, promotion or IP of the NFTs.[79]

The Sandbox

A metaverse game co-founded by Arthur Madrid and Sébastien Borget, The Sandbox, is a virtual world that has been regarded as "virtual real estate" allowing players and brands to build, own, and monetize land and objects via NFT tokens including ERC-721.[80] It has been noted for attracting celebrities as investors like Justin Timberlake and Katy Perry[81] as well as acting as creators utilizing the platform like Snoop Dogg and Paris Hilton.[82] In 2022, the company behind it raised $360 million for a $4 billion valuation.[83] Major brands including McDonald's and Gucci used the platform to create their own metaverse content.[84]

Decentraland

Decentraland is a 3D metaverse platform where ERC-721 NFTs function as deeds to buy and own virtual plots of land.[85] In 2021, an ERC-721 land plot sold for nearly $2.4 million.[86] In 2022 the platform's valuation was over $1 billion while criticisms emerged over low daily active user reports.[86]

Sorare

A fantasy sport cryptocurrency-based video game developed in 2018 by Nicolas Julia and Adrien Montfort, Sorare utilizes ERC-721 NFTs formatted as trading cards of athletes in MLB, NBA and Premier League (its licensed partners).[87] The company raised $680 million to a $4.3 billion valuation in 2021.[88]

Autograph

An NFT platform founded in 2021 by NFL quarterback Tom Brady that features collections from popular celebrities across sports, entertainment and culture utilizing ERC-721 tokens.[89] In 2022, the venture raised $168 million from VC firms Andressen Horowitz and Kleiner Perkins.[90] In 2023 the company announced layoffs for nearly a third of its workforce.[91]

Donald Trump NFT Collection

In 2022 former US president Donald Trump announced an ERC-721 NFT collection of 44,000 images each priced at $99 initially and sold out the first day for nearly $4 million despite public criticisms about them.[92]

Market Capitalization

In 2021, a total of 44.2 billion in cryptocurrencies was spent in NFT marketplaces using ERC-721 and its derivative standard ERC1155 [57]

Derivative Standards

Several months after ERC-721: Non-Fungible Token Standard was published, a semi-fungible token standard was introduced, called ERC-1155, that was intended to expand on the functionality and flexibility of ERC-721's purpose.[93]

The same ERC-721 standard is utilized on the Polygon blockchain.[27]

Out of approximately 85 currently published ERCs (in the "final" state), 7 of them are titled after ERC-721 and serve as a direct extension while almost half of all published ERCs reference, support or extend functionality for ERC-721.[94]

An extension to ERC-721 was proposed to add a significant layer of privacy, Ethereum's co-founder Vitalik Buterin replied to the proposer on Twitter with mixed interest and noted that a challenge was figuring out how to pay fees in such transactions.[95]

Criticisms

The basic version of the ERC-721 standard, as published in ERC-721: Non-Fungible Token Standard, has been criticized by Omar et al for offering limited functionality for the execution of smart contracts associated with NFTs.[58]

Certain NFT use cases demand some features that are not offered by the standard ERC721 and must be created and arranged; such features include the following options: token creation, token deletion, contract access control, and others.

— Ali et al, A review of the key challenges of non-fungible tokens, ScienceDirect

Arcenegui et al points out possible deficits regarding the user in the ERC-721 basic smart contracts and proposes properties to improve and expand its functionality.[96]

Ethereum blockchain's co-founder Vitalik Buterin has criticized popular materialistic use cases of ERC721 tokens as NFTs being "a different kind of gambling" and that he would rather see "funds being used for public goods."[97]

ERC-721 NFTs have been targeted by hackers through social engineering that exploits the setApprovalForAll function, prompting concerns over the ease of theft in certain circumstances.[98]

See also

References

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