What is ERC-721?
The Ethereum smart contract network’s token standard is ERC-721. It was created in September 2017 and debuted in the CryptoKitties game. This Ethereum-based game was the first to make use of the special properties of this standard.
Understanding ERC-721
The ERC721 standard, like earlier token standards, provides a set of common rules that any tokens on the Ethereum network can follow to produce expected effects.
ERC721 is significant for a variety of reasons, including the unique use cases it allows and its ability to be readily integrated into ecosystem infrastructure. Having a single interface that exchange and wallet operators may readily implement increases the value of Non-Fungible tokens. Assimilation into the ecosystem makes Non-Fungible assets more liquid, enhances price discovery, and allows anybody in the globe to hold them.
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