ERC721 Token

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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.

See CryptoCollectible,ERC, ERC20, ERC23, Non-Fungible Token!