What is ERC-721?
ERC-721 is a type of non-fungible token (NFT) on the Ethereum blockchain. It is a unique type of digital asset that is not interchangeable with any other asset. Unlike other tokens, such as ERC-20 tokens, each ERC-721 token is unique and can represent anything from digital art to real estate.
History of ERC-721
ERC-721 was first proposed in 2017 by Dieter Shirley, a software engineer at Axiom Zen. The proposal was made in response to the growing demand for digital assets that could be used to represent real-world assets. The proposal was accepted by the Ethereum community and the ERC-721 standard was officially adopted in 2018.
Since then, ERC-721 tokens have become increasingly popular, with many projects using them to represent digital assets such as art, collectibles, and real estate. The most popular example of an ERC-721 token is CryptoKitties, a game that allows players to collect, breed, and trade digital cats.
Comparison Table
| Token Type | Interchangeable | Unique |
|---|---|---|
| ERC-20 | Yes | No |
| ERC-721 | No | Yes |
Summary
ERC-721 is a type of non-fungible token (NFT) on the Ethereum blockchain. It is a unique type of digital asset that is not interchangeable with any other asset. It was first proposed in 2017 and officially adopted in 2018. It is used to represent digital assets such as art, collectibles, and real estate. For more information about ERC-721, you can visit the Ethereum website or the CryptoKitties website.
See Also
- ERC-20
- Non-Fungible Token (NFT)
- CryptoKitties
- Ethereum
- Smart Contracts
- Digital Assets
- Digital Art
- Collectibles
- Real Estate
- Blockchain
