How to create Non-Fungible Token in Ethereum Blockchain?

  • NFTs are no new concept. They have been in existence since 2015. But only in recent times, it has created a buzz in the blockchain space. Based on a stat, the first half of 2021 has executed over $2.5 billion in sales. It proves why Non-Fungible Tokens are on demand. But when it comes to creating an NFT, it is recommended to analyze the blockchain networks. There are many blockchain networks out there. But not every one of them can be your cookie. So it is safer to ride on a secure path.

    In such cases, you can go with Ethereum. Ethereum has been providing trust among investors since the beginning. As a matter of fact, it was in the Ethereum blockchain the first NFT was created. Also not to mention that most of the NFTs in the marketplace is based on Ethereum.

    Now to create an NFT, you must understand the token standard meant for NFTs. As for Ethereum, ERC721 is the recommendable standard. ERC721 is quite a famous standard. There are many projects based on ERC721. For instance, cryptokitties, a popular NFT gaming platform, use the ERC721 standard to create Non-Fungible Tokens. Apart from gaming ERC721 is used widely in many other NFT platforms like, music, real estate, digital art, and many more. Nyan cat, an ERC721 based digital art, was an enormous success that was bought for $580,000 and sold for $1 million.

    How to create ERC721 token?

    Creating ERC721 might get you all these benefits. But how can you obtain the perks while creating an ERC721 token? Creating ERC721 is not a big deal. But it is better to understand the complete elements of ERC721 before creating it. To get more insights read this blog related to ERC721 token development.