What are the main differences between the ERC-721 standard and other token standards?

3 answers

• Nov 24, 2021 · 3 years ago
  The ERC-721 standard is a non-fungible token (NFT) standard on the Ethereum blockchain. Unlike other token standards, such as ERC-20, ERC-721 tokens are unique and indivisible. This uniqueness allows for the creation and ownership of digital assets that can represent real-world items like artwork, collectibles, or in-game items. In contrast, fungible tokens like ERC-20 are interchangeable and can be divided into smaller units. ERC-721 tokens have gained popularity in the digital art and gaming industries due to their ability to provide verifiable ownership and scarcity to digital assets.
  594297
• Nov 24, 2021 · 3 years ago
  When it comes to functionality, ERC-721 tokens offer more flexibility compared to other token standards. Each ERC-721 token can have its own set of properties and metadata, making it possible to create complex and interactive digital assets. This flexibility enables developers to build applications that leverage the unique characteristics of ERC-721 tokens, such as creating virtual worlds, decentralized marketplaces, and unique gaming experiences.
  451151
• Nov 24, 2021 · 3 years ago
  As an expert in the field, I can confidently say that the ERC-721 standard has revolutionized the way we think about digital ownership. With ERC-721 tokens, individuals can truly own and trade digital assets in a secure and transparent manner. This standard has opened up new possibilities for artists, collectors, and gamers, allowing them to monetize their creations and establish a thriving digital economy. At BYDFi, we recognize the potential of ERC-721 tokens and are actively exploring ways to integrate them into our platform to provide our users with unique and valuable digital assets.
  595149