ERC-721
A standard for non-fungible tokens (NFTs) on Ethereum, representing unique digital assets.
What is ERC-721?
ERC-721 is an Ethereum standard for non-fungible tokens (NFTs), introduced in 2018, where each token is unique and indivisible. Unlike ERC-20 tokens, ERC-721 tokens represent distinct assets, such as digital art, collectibles, or in-game items, with metadata stored on-chain or via IPFS. Key functions include ownerOf and transferFrom, enabling ownership tracking and transfers. Popularized by projects like CryptoPunks and Bored Ape Yacht Club, ERC-721 underpins the NFT market, ensuring interoperability across Ethereum-based platforms.
Related Terms
Perp DEX
A perp DEX is a decentralized exchange specializing in perpetual futures contracts for digital assets, enabling leveraged, non-expiring trades directly on-chain without intermediaries.
Core Personal Consumption Expenditures (Core PCE)
A variant of PCE excluding volatile food and energy prices to gauge underlying inflation trends, favored by the Fed for policy decisions.
e-CNY
China’s digital yuan, a CBDC issued by the People’s Bank of China.
Double Spend
Attempting to spend the same digital asset more than once in a blockchain network.
ERC-20
A standard for fungible tokens on Ethereum, enabling interoperability across dApps.
Lending Pool
A smart contract aggregating digital assets from suppliers for lending and borrowing.