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I am familiar with ERC20 and ERC721. Now exploring more about ERC1155.

Just like we can send a fraction of ERC20 based token. can we send a fraction of ERC1155 based fungible token?

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No, unlike ERC20, ERC1155 lacks a decimals field, since each token is distinct and cannot be partitioned.

You can check the ERC1155 API here and the EIP proposal here.

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