“You would be able to eg. send an NFT to vitalik.eth without anyone except me (the new owner) being able to see who the new owner is,” said the Ethereum co-founder.
ERC-721 is a standard developed specifically for nonfungible tokens (NFTs) and was first proposed as an Ethereum Improvement Proposal (EIP) by William Entriken, Dieter Shirley, Jacob Evan, and Nastassia Sachs in January 2018. Keeping in mind that NFTs may have an intrinsic value (a measure of what an asset is worth) attributed to their age, rarity or the visual they represent, the ERC-721 standard provides functionalities such as transferring a token from one account to another, retrieving the token balance, extracting ownership details, and even returning the total token supply available on a network.
Since every NFT is unique, the ERC-721 standard is more complex than the ERC-20 standard developed for crypto tokens and provides several extensions that can be split among a number of smart contracts. In order to maintain transaction records of NFTs on the Ethereum network, smart contracts implementing the ERC-721 standard are deployed, and different NFT-focused platforms may also offer additional events in order to implement a custom application programming interface (API) for NFTs.
Nansen has registered over 130 million addresses and has grown 30% despite the crypto downturn in 2022.1684
Over 1 million unique wallet addresses were involved in the minting process, signaling that nonfungible token market activity remained strong.2745
With the use of blockchain explorer or by retrieving it from the smart contracts that manage them, you may locate the metadata for your NFTs.6272
Nickelodeon’s sell-out NFT drop has surged to second place on OpenSea’s 24-hour sales volume chart, and former Simpson’s animator Erick Tran is working on an animated NFT series.7278
Security auditing is set to be tokenized by ConsenSys Diligence as TURN tokens are unveiled — creating an open market for the in-demand service.1566