How does the ERC-721 standard improve the functionality of digital assets?

1 answers

• Mar 20, 2022 · 3 years ago
  The ERC-721 standard, also known as the Non-Fungible Token (NFT) standard, greatly improves the functionality of digital assets by introducing the concept of uniqueness and indivisibility. Unlike traditional cryptocurrencies, which are fungible and interchangeable, ERC-721 tokens represent distinct and irreplaceable assets. This allows for the creation of digital collectibles, unique artworks, and even virtual real estate. The ERC-721 standard enables developers to build applications that leverage the uniqueness of these assets, creating new opportunities for creativity, ownership, and value exchange. With the ERC-721 standard, digital assets become more than just numbers on a blockchain; they become unique and valuable items that can be bought, sold, and traded in a secure and transparent manner.
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