Definition
A technical standard on Ethereum for creating non-fungible tokens (NFTs). Each ERC-721 token is unique and cannot be exchanged one-for-one with another token of the same type.
Why It Matters
ERC-721 is the standard that made NFTs possible on Ethereum. Understanding it helps you see how digital ownership is technically implemented on a blockchain.
Example
CryptoPunks and Bored Ape Yacht Club are ERC-721 NFTs — each one is unique, and no two are identical.
Related Terms
NFT
Ethereum
Smart Contract
ERC-20