As you mentioned Ethereum has ERC, and on Algorand we have ARC: here is the link to the repository:
NFT is a wide word.
Currently, most NFT collections are using ASA Algorand Standard Assets
Here are the 2 standards used for ASA currently:
When combined with ARC-19, ARC-3 is the most versatile one.
For metadatas, you can look at ARC-16
We don’t have any Standards for “Smart Contract” approach like ERC-721 yet.
It will come in the coming weeks with the arrival of Box Storage
Which will allow a full “Smart Contract approach”.
If you have more questions, we also have dedicated channels on our Discord.