NFT standards refer to the guidelines and protocols that determine how non-fungible tokens are created, transferred, and stored on blockchain networks. These standards ensure interoperability and compatibility among different NFT platforms and marketplaces, allowing tokens to be easily traded and recognized across various applications.
The most widely adopted NFT standard is ERC-721, which was introduced on the Ethereum blockchain. It defines the basic functions and data structures for creating unique digital assets that cannot be replicated or exchanged on a like-for-like basis. ERC-721 tokens have individual characteristics and metadata that distinguish them from other tokens.
Another important NFT standard is ERC-1155, which allows for the creation of both fungible and non-fungible tokens within the same contract. This standard offers more flexibility for developers to create different types of digital assets and manage them efficiently on the blockchain.
Overall, NFT standards play a crucial role in promoting the growth and adoption of non-fungible tokens by providing a common framework for developers, users, and marketplaces to interact seamlessly in the NFT ecosystem.
