# EIP-721: Non-Fungible Token Standard Content type: Research Paper Summary: EIP-721 introduced the standard for non-fungible tokens (NFTs) on Ethereum, providing a programmatic way to track ownership of unique, distinct assets. Unlike fungible tokens (ERC-20), each ERC-721 token has a unique identifier, allowing for the representation of digital art, collectibles, real-world assets, and in-game items. The standard defines how to transfer tokens, check ownership, and manage metadata associated with these unique assets. By providing a common framework, EIP-721 laid the fo Key concepts: William Entriken, Dieter Shirley, Jacob Evans, Nastassia Sachs, nft, erc-721, non-fungible, digital assets, ethereum, ownership
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EIP-721: Non-Fungible Token Standard

William Entriken, Dieter Shirley, Jacob Evans, Nastassia Sachs

Ethereum Improvement ProposalsJanuary 2018

Abstract

EIP-721 introduced the standard for non-fungible tokens (NFTs) on Ethereum, providing a programmatic way to track ownership of unique, distinct assets. Unlike fungible tokens (ERC-20), each ERC-721 token has a unique identifier, allowing for the representation of digital art, collectibles, real-world assets, and in-game items. The standard defines how to transfer tokens, check ownership, and manage metadata associated with these unique assets. By providing a common framework, EIP-721 laid the foundation for the NFT market, enabling the verifiable scarcity and provenance of digital items. Its adoption transformed how ownership and digital content are managed on-chain, proving the viability of blockchain for identity and creative industries.

Key Findings

  • 1Introduced a standard interface for non-fungible, unique tokens.
  • 2Enabled tracking of distinct assets with persistent on-chain identity.
  • 3Supported the integration of metadata for unique asset representation.
  • 4Facilitated the growth of digital collectibles and ownership markets.

Topics

nfterc-721non-fungibledigital assetsethereumownership
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Citation

William Entriken, Dieter Shirley, Jacob Evans, Nastassia Sachs (2018). EIP-721: Non-Fungible Token Standard. Ethereum Improvement Proposals. https://eips.ethereum.org/EIPS/eip-721

BibTeX

@misc{eip7212018,
  title = {EIP-721: Non-Fungible Token Standard},
  author = {William Entriken and Dieter Shirley and Jacob Evans and Nastassia Sachs},
  year = {2018},
  howpublished = {\url{https://eips.ethereum.org/EIPS/eip-721}},
}

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