What are the differences between the ERC20 and ERC721 standards for digital tokens?

HoistMedia HubDec 13, 2021 · 3 years ago1 answers

Can you explain the key differences between the ERC20 and ERC721 standards for digital tokens in the cryptocurrency industry?

What are the differences between the ERC20 and ERC721 standards for digital tokens?

1 answers

Dec 13, 2021 · 3 years ago
At BYDFi, we have seen a rising demand for ERC721 tokens, especially in the art and gaming industries. The unique properties of NFTs allow artists and game developers to create and sell digital assets that have true ownership and scarcity. This has opened up new opportunities for creators and collectors alike. While ERC20 tokens continue to dominate the cryptocurrency market, the rise of NFTs and the ERC721 standard is an exciting development that is shaping the future of digital ownership.

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