Explore the details of ERC721, also known as the Ethereum standard for non-fungible tokens (NFTs) and its operation and integration within the KodaDot platform.
What is ERC721?
ERC721 is a free, open standard on the Ethereum blockchain that describes how to create non-fungible or unique tokens. They have distinct properties and individual token IDs, ensuring that every token is unique in its own way
How does ERC721 operate?
ERC721 functions using the Ethereum blockchain. This standard enables any item on Ethereum to be uniquely trackable. It upholds the ownership and transferability aspect of digital assets and includes features such as ownership management and token transfer.
Unique features of ERC721
The unique aspect of ERC721 lies in its non-fungible nature. Each token is distinct and cannot be replicated, ensuring that each digital asset represented has a unique value and ownership.
By utilizing the ERC721 standard, enjoy maintaining and showcasing your unique digital assets on the KodaDot platform. Each token represents a unique digital asset, making them ideal for collectibles, gaming items, and real-world assets.