Any physical asset tokenized on the blockchain network, using the standards of either ERC-721 and ERC-1155, is Non-Fungible Token Development. The assets can be anything; it may be artwork, a video clip, or an audio file, and they can be monetized. These assets are harnessed with the Decentralized Non-Fungible Token (DNFT) protocol that enables the NFTs to be minted and traded.
Domains of NFT Token Development
- Gaming Industry
- Art Industry
- Media and Entertainment
- Real Estate
- Crypto Collectibles
Standards of tokenization
This is an Ethereum-based token from 2017 that has the ability to address only one asset, unlike the quality of the ERC-20 token standard. The ERC-721 standard allows the asset to stay immutable, secure and owned. These standards are essential as they are the tokens that facilitate the robust smart contracts to hold onto the information. They do not just represent the assets but also their tokenization and certification.
They are also Etherum-based token standards that can support fungible tokens and non-fungible token applications. ERC-1155 helps the network stay swift and sufficient, supporting large amounts of assets in the platform, though ERC-721 is the one most suited for minting the asset on the network
Why NFT Token Development?
- Resale and Royalty
Blockchain technology has some hard-core enthusiasts in this completely decentralized world that are result-driven and show great potency in tweaking commerce. The token development displays beneficial services that help uplift the crypto ventures in processing a humongous amount of scalability in tokens. They are,
- The platform exhibits perfect transparency and easy navigation with its liquidity.
- The clear-cut identification regulation instilled in the platform only adds to the value of these virtual assets.
- These clear verification done on the tokens are carried out quicker and secured, eventually resulting in seamlessly launching the cryptocurrency market.
White-label Non-Fungible Token development services provided by the NFT development agencies are done with varied tech stacks such as Smart contracts, dApps, Smart contract Auditing tools, DeFi protocols, and ERC and EOS standards. The users can enjoy an ocean of benefits that promises expert developers of the blockchain industry that are strictly in compliance with the NDA terms and conditions, timely delivery of the projects securely with effective planning. The users, with token development, get to have the supply of high-on-demand assets under their control and a ceaseless revenue stream.