Could the ERC-404 protocol become the new standard for NFTs? This experimental Ethereum token standard merges ERC-20 and ERC-721, enabling native fractional ownership and boosting liquidity. By allowing multiple users to own fractions of an NFT without intermediaries, ERC-404 democratizes access to high-value assets like art, real estate, and gaming items. Its mint-and-burn mechanism ensures real-time value reflection, addressing traditional NFT illiquidity. However, challenges remain: it lacks official Ethereum Improvement Proposal status, faces potential security risks, and incurs higher gas fees. While projects like Pandora show promise, widespread adoption hinges on community support, platform integration, and regulatory clarity. If refined, ERC-404’s semi-fungible model could redefine NFT ownership, fostering innovation in DeFi and beyond, but its experimental nature demands caution.