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BEP-721

BEP-721 is a (BSC) token standard that enables the generation of (NFTs). It is considered to be an extension of , one of the most commonly used NFT standards, and is compatible with the Ethereum Virtual Machine (EVM). [1][2]

Overview

BEP-721 tokens enable the tokenization of data ownership, linking it to a unique identifier, and setting it apart from tokens. While allows developers to create multiple identical tokens within a single , BEP-721 assigns a distinct token ID to each token, making them individually unique. [2]

Through these unique IDs, BEP-721 tokens can be used to represent collectible, non-fungible items. Users can trade and transfer these tokens based on their market value, which depends on the token’s rarity or utility. [2]

BEP-721 tokens can represent digital and physical art, collectibles, in-game items, physical property, real estate, and lottery tickets. [1]

BEP-721 Token Functions

BEP-721 has a list of functions that govern how the token interacts with the BNB Smart Chain. Some of these are standard and are also present in the BEP-20 standard such as:

  • name  —  specifies the name by which other contracts will recognize the BEP-721 token
  • symbol  —  a concise name for the token, comparable to a ticker symbol
  • balanceOf  —  displays the token balance of a given address
  • totalSupply  —  shows the overall amount of tokens generated. [3]
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BEP-721

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August 18, 2023

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