bep-721

Safe Passage Tokens (BEP-721) is a token standard that references the ERC-721 standard on the Binance Smart Chain network. It is the standard that defines the way of creating and interacting with non-fungible tokens representing unique digital assets.

Characteristics of BEP-721

The BEP-721 standard defines both the contract interface and data encoding required to handle indivisible tokens. BEP-721 tokens have unique identifiers (IDs), meaning each token represents a unique and indivisible asset. This is useful for digital collectibles, digital real estate, or other assets valued for their uniqueness.

How does BEP-721 work?

Each BEP-721 token stores information about the owner who has control over the asset. This standard enables the transfer of ownership rights to these assets and tracking the transaction history related to a specific token. In practice, users can collect, trade, and enjoy digital assets that hold real value.

Applications of BEP-721

BEP-721 tokens are primarily used in the collectibles industry to represent unique digital items such as art, music, video games, or virtual real estate. They allow for the creation of unique digital experiences and the development of valuable collections that can be easily traded on the secondary market.

Summary

BEP-721 is a token standard on the Binance Smart Chain that enables the creation and interaction with unique digital assets. Users can collect, trade, and track transaction histories of their digital assets. It represents another step in the development of the crypto asset ecosystem, allowing for innovative solutions in the areas of collecting and investing in digital assets.