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ERC 721 defines non-fungible tokens where each token is unique. But if one needs to create a token where there is a limited supply of various types, is there a an effective way to accomplish this by mixing both standards without essentially just creating multiple ERC 20 with limited balances?

The goal is to have provable creation and burn of a limited supply of a multitude of related tokens. Some of these would have a total balance of 1 and essentially be standard ERC 721, but others would have a larger supply.

  • AFAIK, there are no standards for this yet. But you can always tweak the smart contracts to get what you need. – Prashant Prabhakar Singh Jan 16 at 10:47
  • For these related tokens, will each one have a serial number? Or will they be entirely indistinguishable? – William Entriken Jan 21 at 22:34
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There currently is no standard defined for what you are describing as "semi-fungible". The ERC 721 standard is for truly unique assets which are therefore NFT(non fungible tokens).

To implement what you want you should use a related series of contracts each with its own total supply.

The 721 spec https://github.com/ethereum/EIPs/blob/master/EIPS/eip-721.md explicitly describes an example similar to yours as not being compatible as follows,

Note: "Limited edition, collectible tokens" like Curio Cards and Rare Pepe are not distinguishable assets. They're actually a collection of individual fungible tokens, each of which is tracked by its own smart contract with its own total supply (which may be 1 in extreme cases).

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