Meaning of ERC721 Token
It means the token adhere strictly to Ethereum Token Stardard known as ERC-721 to work easily as CryptoCollectible (not serve as currency like ERC-20) on Ethereum Blockchain. It is referred to as an Ethereum Improvement Proposal introduced by Dieter Shirley in late 2017. It’s a proposed standard that would allow smart contracts to operate as tradeable tokens similar to ERC20. ERC721 tokens are unique in that the tokens are non-fungible.
The first popularly known ERC721 is CryptoKitty.« Back to Dictionary Index