Native Items vs Wrapped vs Decks

Native Items

Native Items are those that have been minted directly via the Items protocol (as opposed to wrapped), and which have all the capabilities intrinsic to the standard.
This includes the ability for their Collections to have Extensions, which distinguishes them from wrapped Items and their Collections. An Extension allows a native Item Collection be governed using a customizable, granular permission system, which can take advantage of other EthereansOS protocols (i.e, you could have a subDAO rule over Item minting for the Collection).
Other juxtapositions are made below.

Wrapped Items

Wrapping
Wrapping a token as an Item technically means sending it to the wrapper contract (a type of extension), where it stays while wrapped, and sending its wrapped version to the specified receiver address.
Wrapped
A wrapped Item is any ERC20, ERC721, ERC1155 or ETH that has been wrapped as an Item. And indeed, any token of these standards can be wrapped as an Item.
Depending on its type, a token is wrapped with the corresponding contract:
  • ETH and ERC20s are wrapped using the ERC20 Item Wrapper Contract
  • ERC1155s are wrapped using the ERC1155 Item Wrapper Contract
  • ERC721s are wrapped using the ERC721 Item Wrapper Contract
These contracts are in fact Singleton Extensions. You can learn more about wrapper contracts right here.
While wrapped, a token belongs to the corresponding Item collection:
  • Wrapped ETH and ERC20s belong to the ERC20 Item Collection
  • Wrapped ERC1155s belong to the ERC1155 Item Collection
  • Wrapped ERC721s belong to the ERC721 Item Collection
Unwrapping
To unwrap a wrapped Item, simply burn it, and the specified receiver address will retrieve the original token from the wrapper contract.

Deck Items

Wrapping as a Deck
Wrapping a token as an Item Deck technically means sending it to the Deck contract (a type of extension), where it stays while wrapped, and sending its Deck version to the specified receiver address.
Decks
At their core, Decks are just like Wrapped Items, in that they allow any ERC721 or ERC1155 to be used as Items:
  • ERC721s are wrapped using the ERC721 Deck Contract
  • ERC1155s are wrapped using the ERC1155 Deck Contract
These contracts are in fact Singleton Extensions. You can learn more about Decks contracts right here.
They effectively allow you do with any NFT anything that is possible for any token on Ethereum. As just one limited example, they can let you pool a BAYC on Uniswap, while also listing it on OpenSea. To learn more about the advanced capabilities of the Item standard, see here.
However, Deck technology bring an entirely new additional set of features to the table.
It allows you to wrap ERC721s or ERC1155s from the same Collection into a single fungible supply. Among other things, this allows NFT communities to use their original NFTs in DeFi, Governance and other realms of Ethereum, without having to make representative ERC20s and so on.
Both Decks and Wrapped Items exploit the Item standard to unleash tokens across the Ethereum universe.
Unwrapping
To unwrap a Deck Item, simply burn it, and the specified receiver address will retrieve the original specified token from the Deck contract. Deck Item can have Reservation: NFT holders can be sure to keep possession of their specific NFT by wrapping it using a “Reservation” lasting 10 days. During this period, only the wrapper wallet can unwrap it, just the time needed to use it in governance, a game, DeFi and so on.

Further capabilities

Item Extension
As with Wrapped Items, even Deck Items cannot have Extensions.
Token Abilities While Wrapped
While wrapped as a Wrapper Item or as a Deck, a token acquires all capabilities of the default Item standard, except that it can’t be linked to an Extension.
While wrapped, it can be pooled on a DEX like Uniswap, for example, or batch-transferred with other Items, or listed for sale on OpenSea etc.
Main Interface & Batch Operations
Just like Native Item Collections, the three wrapped Item Collections and the two Deck Item Collections are virtualized as collectionIds in the Main Interface.
This means that when executing operations such as batchBurn or batchTransfer, you have the choice of interacting with either the Main Interface, the Wrapper Contract(s)/ Deck Contract(s) that correspond to the wrapped Item(s)/Deck Item(s) you’re operating on.
Additionally, it means that things like Batch Operations can be performed with Items from wrapped Item Collections, Deck Item Collections and Native Item Collections in single transactions. So you could batch transfer 3 wrapped CryptoKitties, 10 native Items from Collection A, 100 wrapped ETH and 10 BAYC Decks in a single transaction.