#26 Solidity ERC721
In this video, we will learn about ERC721 Standard smart contract. The ERC721 standard is a set of rules and guidelines for creating non-fungible tokens (NFTs) on the Ethereum blockchain. ERC721 stands for “Ethereum Request for Comments 721,” and it specifies the interface and behavior that NFT contracts should follow to ensure compatibility and interoperability. Unlike fungible tokens (such as cryptocurrencies), NFTs are unique and indivisible digital assets that represent ownership or proof of authenticity of a specific item, such as artwork, collectibles, or in-game assets. The ERC721 standard defines functions for token creation, ownership transfer, querying token metadata, and managing approvals for delegated token transfers. It enables developers to create and interact with NFTs in a standardized way, facilitating the development of NFT marketplaces, decentralized applications (dApps), and other NFT-related services on the Ethereum network.