ERCs are application-level standards in the Ethereum ecosystem, they can be a smart contract standard for tokens such as ERC-20, the author of an ERC is responsible for building consensus with the Ethereum community and once the proposal is reviewed and approved by the community it becomes a standard.
What is ERC-721? ĮRC stands for Ethereum Request for Comment, and 721 is the proposal identifier number. Think of Non-Fungible Tokens (NFTs) as rare collectibles each has unique characteristics, unusual attributes, and most times, its metadata. They are all clearly distinguishable from one another and are not interchangeable. The types of things that can be NFTs are collectible cards, artworks, airplane tickets, etc. Every single token has unique characteristics and values. With this in mind, NFTs are unique each one is different. For example, Ethereum tokens, all the members of a particular token class, have the same value. What is a Non-Fungible Token? įungible means to be the same or interchangeable. This guide will cover creating and deploying our very own ERC-721 (NFT) using the 0xcert/ethereum-erc721 smart contract library. Subscribe to our YouTube channel for more videos! Subscribeĭigital collectibles compatible with the ERC-721 standard have become very popular since the launch of Cryptokitties and have moved forward towards mass adoption in recent months.
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