ERC-721
A token standard on Ethereum for creating non-fungible tokens, where each token is unique and can represent a distinct digital or real-world item.
ERC-721 is a technical standard on Ethereum for creating non-fungible tokens, or NFTs. Unlike ERC-20 tokens, where each unit is interchangeable with any other unit, every ERC-721 token has its own unique identifier. This makes it useful for representing items that need individual ownership records, such as digital art, game items, event tickets, domain names, or tokenized certificates.
The standard matters because it gives wallets, marketplaces, and applications a shared way to recognize, transfer, and display unique tokens. For example, an NFT marketplace can support many different ERC-721 collections because they follow the same basic rules for ownership and transfers. A simple comparison is a concert ticket versus a dollar bill: one dollar is generally the same as another, but a ticket for a specific seat at a specific show is unique. ERC-721 brings that kind of uniqueness to blockchain-based assets.
Other terms in Ethereum
Account Abstraction (ERC-4337)
A way for Ethereum wallets to act like smart contracts, enabling features such as gas sponsorship, account recovery, and custom transaction rules.
Beacon Chain
Ethereum’s proof-of-stake coordination layer that organizes validators and finalizes blocks for the network.
EIP
An Ethereum Improvement Proposal is a formal document used to suggest, discuss, and standardize changes to the Ethereum network or ecosystem.
ERC-1155
An Ethereum token standard that lets one smart contract create and manage multiple token types, including fungible tokens, NFTs, and semi-fungible items.