ERC by [William](https://twitter.com/William94029369) and [Simon](https://twitter.com/dievardump) inspired by Permits NFT idea and [[EIP2612]] # EIP overview This ERC extends function of [[EIP2612]] - the initial [permit EIP](https://eips.ethereum.org/EIPS/eip-2612) to [[ERC721]] NFT. It requires separate EIP due to difference between ERC20 and ERC721. The main difference is that ERC20 permits use value (the amount of the ERC20 token being approved) and a nonce based on the owner's address, ERC721 permits focus on the `tokenId` of the NFT and increment nonce based on the transfers of the NFT. This EIP is basically EIP-2612 with extended ERC-721 function tokenID onstead of value - amount of tokens which are being transferred. The main difference between EIP-2612 and EIP-4494 is that EIP-4494 defines tokenID nonce as this function describes and differs NFTs in the contract. Full EIP: https://github.com/ethereum/EIPs/pull/4494/commits/5756e7f465c35da1e0999af71d31c85a8a96689e ERC as PR to follow it’s status and progress: https://github.com/ethereum/EIPs/pull/4494 EIP-2612 (for comparison): https://github.com/ethereum/EIPs/pull/2612/commits/1cfbd0eb808892b40f09abebbe3d9581c93240ea EIP-4494 implementation in vyper: https://github.com/tserg/vyper-contracts/blob/main/contracts/EIP4494.vy