The Uniqueness of the ERC-721 Token

[jamesvince 2389]

There is huge tokens in crypto market which are used eth blockchain technology because most of tokens used eth blockchain wallets. So if we talked about in percentage term then more then 80% tokens using this eth platforms. So this is uniqueness of erc has. 

[TimopheyKa 3900]

The main distinguishing feature of the ERC721 standard from the usual ERC20 is that this type of token is not fungible.  This property defines the range of potential application of the standard.  Obviously, unique tokens are best suited for digitizing unique assets.  Most of the functions of the ERC-721 are the same as those of the ERC-20.  This integrity is necessary at least for the sake of simplicity of daily use of coins, since there is a need to store them in regular wallets and trade them on exchanges.

[Cryptomint 433]

Yes this is a very new concept in the cryptocurrency world.  And now I am looking that it is now showing more popularity in crypto currency world.

[cryptovlek 2597]

ERC 721 has importance and is something that can be very big if NFTs are adopted by gaming community and companies. But for now it is just used for something like collectibles which is like trading some cards that I never understood why it meant anything. Maybe it will be important later if it is used to trade game items in popular games and not the silly blockchain games we see today.

[Sykkuno 2887]

Non fungible tokens are once again on the rise and can be a trend that will be similar to Defi very soon. we have to expect a rise in Ethereum price too and a lot of interest in the NFT markets. Thanks for the good post that explains the ERC 721 protocol.

[bogdanoff 3173]

ERC 721 are shown in etherscan in a different tab from erc20 so be careful when looking at your tokens because you might miss them. Also not shown in other ethereum blockchain explorers like ethplorer. I don't know why ethplorer has still not updated about these.

[percare 3192]

On 2/22/2020 at 11:30 PM, hmind said:

Through NFT, you can have characters, skins, and in-game customization outside the settings as third parties, including game developers.

For what I know NFTs are a revolution in gaming. With these tokens gamers can take items and skins and use them between games and it is up to the companies to allow this and normalize the effects. There will be huge interest in NFTs and it will make a difference when they actually adopt this technology that will make gaming a better experience.

[Zeshan Khalid 2577]

This token is just a subset if huge ETH platform. It is unique because every token have its own value and they cannot be interchanged with other tokens of the same type.

[Fixfin 2569]

I have seen that many are talking about NFTs and think it will be the next Ethereum big think, but I remember it happened again years ago and it was only shown that Ethereum can't work when too many people are using it. Same as Defi when many begin using Ethereum it gets clogged and need some unrealistic fees to make a transaction.

[Mella 3680]

Very good that you helped us to know about this. I am heard of NFT and read about it in this forum too, so I am not surprised but I am very happey to read more about this and know a lot more. It is seem that the game industry is very big one with million of users and maybe with the NFT the crypto can be used in it a lot more.

[annayks 2314]

ERC 721 will be actually used a lot as there are already companies experimenting and trying to create blockchain games but I don't know if it will become the standard. It needs a lot of time to say if this protocol that is based on ethereum will become something used universally in gaming.

[yonkii 3205]

Thanks for explaining the use case of this ERC721 token. It was very confusing but I understand that it holds certain properties of saving customization and characters and you can have them in tokens instead inside the game. This brings better personalization to games.

[matias estigarribia 1605]

Lately they are becoming very popular as they are doing many NFT aidrop that work with the ERC721 network of ERC20. It seems like a good project and it will continue to grow!

[noshot 154]

Thank you I know a lot more after reading this post and it has been very enlightening about this erc721 that I did not know a lot about. I will try to look for games that use it and maybe I will find something very good. I am a gamer too and I like this idea a lot.

[kryptonick 2659]

On 2/22/2020 at 11:30 PM, hmind said:

However, there is no clear concept of ownership of assets in gaming, other than believing in a gaming company as a custodian of player assets.

This is a big problem in gaming industry. In the online games gamers actually spend so much time and competition is very high especially in pvp. Some gamers have developed skills that make them elite and earn the best in game items. But they are exploited by the companies as they are not allowed to monetize their success and skills while in competitive gaming this shouldn't be the case. Otherwise companies shouldn't have pvp, or races or anything. They should allow prizes like rare items and gold to be sold wiithout fear of ban.

[TimopheyKa 3900]

ERC-721-used for unique indivisible tokens or electronic collectibles.Right now, gamification is taking over the world in full force. All areas, from business to training, are trying to integrate game elements into their systems to become more interesting and productive. Another important trend is bacchanale, which helps the spread of global transparency. No matter how we feel about cats and online games, it is difficult to overestimate the importance of creating a standard for electronic collectibles. In a world where we all own unique items, from playing cards to real estate, they will still find their use in the most unexpected areas of life, making transactions cheap, transparent and secure

[Cryptomint 433]

These tokens are good and circulating more in the cryptocurrencies world and many are those which has airdropped the tokens and people collected.

[RoyalHouse01 9]

I am still unable to understand the concept of the nft how it is working I have seen it like a digital item and that is why there are different ways to buy and sell them, it is not easy as well.