erc-721

ERC-721 is a standard for non-fungible tokens based on the Ethereum platform. It is a standard that defines an interface for creating unique digital assets, such as crypto-collectibles, virtual real estate, or other unique items.

How Does ERC-721 Work?

ERC-721 introduces uniqueness to the world of cryptocurrencies by assigning each token its own identifier – a serial number that uniquely identifies it. This makes owning a particular token a proof of its authenticity and uniqueness, opening up new possibilities for creators and collectors of digital assets.

Main Features of ERC-721

ERC-721 differs from the more popular ERC-20 standard in that tokens created according to this standard are inherently unique and indivisible. This means they cannot be divided into smaller parts, making them ideal for representing unique and one-of-a-kind assets.

Applications of ERC-721

The ERC-721 standard has found its main applications in the field of collectible crypto-collectibles, where each token can represent a unique character, item, or card. Furthermore, it is also used for the tokenization of virtual real estate, opening up new investment opportunities in such assets.

Summary

ERC-721 is an innovative standard for non-fungible tokens that enables the creation and management of unique digital assets on the Ethereum platform. It allows the representation of virtual collections, real estate, and other unique items in a decentralized and secure manner.