Investor's wiki



BEP-721 is a Binance Smart Chain (BSC) token standard that considers the creation of non-fungible tokens (NFTs). It's an extension of Ethereum's ERC-721, one of the most generally utilized NFT standards and is viable with the Ethereum Virtual Machine (EVM). Each NFT is unique and isn't interchanged with some other token.
BEP-721 tokens permit you to tokenize the ownership of data and join to it a unique identifier. This viewpoint makes the token unique and boundlessly not quite the same as BEP-20 tokens. WIth BEP-20, engineers can make various identical tokens inside one smart contract. Be that as it may, with BEP-721, every token is assigned an alternate token ID.
Through these unique IDs, BEP-721 tokens can be utilized to address collectible, non-fungible things. Users can trade and transfer these tokens in view of their market value, which relies upon the token's unique case or utility.
BEP-721 tokens can address:

  1. Digital and physical craftsmanship
  2. Collectibles
  3. In-game things
  4. Physical property and land
  5. Lottery tickets

Like different tokens on Binance Smart Chain, BEP-721 token transfers require BNB for gas fees. BEP-721 tokens can be made on different platforms in the BSC ecosystem, including the Binance NFT Marketplace, Featured By Binance, BakerySwap, and Juggerworld.

BEP-721 token functions

BEP-721 has a rundown of functions that oversee how the token interfaces with the Binance Smart Chain. A portion of these are genuinely standard and are likewise present in the BEP-20 standard:

  • name: Defines the BEP-721 token's name, which different contracts will identify it by
  • Symbol: A more limited name for the token like a ticker symbol
  • balanceOf: Shows the token balance of a specific location
  • totalSupply: Defines the total number of the tokens made.

There's likewise a set of essential ownership functions, some of which are discretionary to incorporate. A unique feature for NFTs is the metadata function:
tokenMetadata: This function considers the inclusion of metadata into a token used to connection to a fine art file or one more collectible part of the NFT.
For instance, each CryptoPunk has metadata held inside the NFT that points it to a specific troublemaker in a grid of 10,000 troublemakers. Despite the fact that CryptoPunks don't utilize the BEP-721 token standard, their utilization of metadata is something similar.