ERC-721 definition
In general terms, ERC-721 is a standard for generating unique digital tokens on the blockchain. Tokens like NFTs have broad applicability, like representing digital art, tickets, or even real estate. In most scenarios, they are the proof of ownership in the digital medium.
See also: blockchain technology
Common ERC-721 token examples:
- Digital art and collectibles: ERC-721 tokens are used to create digital art like NFTs, other collectibles, and even virtual items. These tokens work as proof of ownership.
- Real estate and property: Modern projects use ERC-721 tokens for ownership representation of real-world property. These tokens can eliminate traditional intermediaries and create a transparent way to record property ownership.
- Ticketing and event access: ERC-721 tokens can be applied to issue event tickets in a digital format. That lowers the probability of counterfeit ticket usage.
