Skip to main content

​
EIP-721: Non-Fungible Token Standard

EIP-721 introduced the standard for non-fungible tokens (NFTs) on Ethereum, providing a programmatic way to track ownership of unique, distinct assets. Unlike f

​
Abstract

EIP-721 introduced the standard for non-fungible tokens (NFTs) on Ethereum, providing a programmatic way to track ownership of unique, distinct assets. Unlike fungible tokens (ERC-20), each ERC-721 token has a unique identifier, allowing for the representation of digital art, collectibles, real-world assets, and in-game items. The standard defines how to transfer tokens, check ownership, and manage metadata associated with these unique assets. By providing a common framework, EIP-721 laid the foundation for the NFT market, enabling the verifiable scarcity and provenance of digital items. Its adoption transformed how ownership and digital content are managed on-chain, proving the viability of blockchain for identity and creative industries. Authors: William Entriken, Dieter Shirley, Jacob Evans, Nastassia Sachs Publication: Ethereum Improvement Proposals Publication date: 2018-01-01

​
Key findings

  • Introduced a standard interface for non-fungible, unique tokens.
  • Enabled tracking of distinct assets with persistent on-chain identity.
  • Supported the integration of metadata for unique asset representation.
  • Facilitated the growth of digital collectibles and ownership markets.

​
Citation

William Entriken, Dieter Shirley, Jacob Evans, Nastassia Sachs (2018). EIP-721: Non-Fungible Token Standard. Ethereum Improvement Proposals. https://eips.ethereum.org/EIPS/eip-721
Canonical knowledge ID: research:eip-721-non-fungible-token-standard