The rising use cases of non-fungible tokens in different business verticals resulted in burgeoning demands for NFTs. For this reason, enterprises and reputed businesses are partnering with top NFT Token development services provider companies. Without leveraging these new-age technologies, businesses can't dominate in the crypto space and crypto universe.
When it comes to the most valuable token standard that offers several features and makes it easier to work with digital assets, then ERC721 is the right choice.
The token standard is grabbing the attention of budding entrepreneurs as popular platforms such as Axie, Crypto kitties, Avastar, and VNFT are built on ERC721.
The growing popularity of these crypto platforms resulted in ERC721 (an Ethereum-based token standard) added popularity and mass utilization.
All these reasons added to the popularity of the ERC721 token popularity. If you plan to leverage its potential for your business, contacting our experts at RisingMax Inc. can be a good start. We have successfully built software solutions for our clients worldwide with token standards and blockchain technology expertise. Let’s connect over a FREE consultation call and discuss how we can leverage the ERC721 standard to build business solutions.
In this post, we will start from the basics.
Non-fungible tokens or NFTs are new-age digital assets that are unique, indivisible, and rare. All the information related to digital assets is recorded on blockchain-based smart contracts making it impossible for anyone to edit or duplicate them.
Users can easily tokenize digital files such as artwork, real estate, music, and more into non-fungible tokens that link to the unique ownership. They are known as modern-day financial assets securely recorded on the blockchain.
ERC stands for Ethereum Request for Comments. ERCs are application-level standards authored by Ethereum community developers.
On the other hand, ERC721 was the first token standard built on the Ethereum blockchain to assist the creation of non-fungible digital assets. Each token built on the ERC721 token standard can hold a different value, thus making it easy to manage, trade, and own. This is mainly used in the development of gaming platforms.
The popularity of play-to-earn and play & own games resulted in the increasing use of non-fungible tokens in the gaming sector. Cryptokitties is one of the first games built on ERC721 and became a huge success.
In this game, players buy cryptokitties, each with their unique set of rare features. The uniqueness of all the cryptokitties within the game is possible with the ERC721 token standard.
Leverage the true potential of the ERC721 token standard and launch your own NFT game with unique and rare non-fungible tokens. Connect with our NFT game development experts and give wings to your dream gaming projects.
Limited & Transferable Licenses - The licenses imparted on ERC721 tokens are rare and transferable.
Easy Renewals - The ERC721 makes it easy for users to renew their subscription by paying the extra amount.
Affiliate Marketing – With the ERC721 token, users can easily connect with an eCommerce platform with affiliate marketing and earn their share of profits on every sale they refer.
Piracy free - ERC721 token standard offers undeniable security features, and easy management makes it piracy-free.
Restricted Permissions – With ERC721 tokens, you can restrict or limit users' permission within the network. The token standard allows special permissions for three organizational roles: CEO, CFO, and COO.
Manage Inventory – With the ERC721 token standard, you can assign a specific value to each product. This makes managing inventory easier than ever before. Maintain a specific inventory level of product and total supply.
Surveillance free - The ownership-oriented nature of web3 platforms allows these tokens to be free from surveillance.
As you already know that ERC721 is the first token standard for creating digital assets. For this reason, several successful NFT projects in the market deploy this Ethereum blockchain token standard. Investors and entrepreneurs actively partner with the ERC721 token development company and launch their platform.
Let’s have a look at some of the most popular NFT marketplace built using the ERC721 token standard:
And the list goes on. If you plan to integrate ERC721, connect with our support team and take advantage of our affordable ERC721 token development services.
Leverage our affordable ERC721 token development services for token creation. With our blockchain technology expertise, we create sustainable and recyclable tokens.
The encryption and decentralized nature Ethereum blockchain-based token standard makes it easy for users to transfer cryptocurrencies as easily as cake.
Hire our ERC721 token standard experts to launch your ERC721 token wallet for buying, selling, storing, or trading crypto tokens with the security of blockchain technology.
With our affordable ERC721 token development services, we help our clients build cold storage for safekeeping digital collectible or NFTs collection for a longer duration without any security threat.
As a trusted ERC721 token development company, we provide open-source code with GitHub that allows users to perform multiple tasks simultaneously.
We provide affordable ERC721 token verification services on Etherscan to ensure that the product meets the market requirements for better verification.
The ERC20 token standard is somewhat similar to the traditional finance analogy of IPOs. Created on the Ethereum blockchain, this token standard makes it easy for users to buy, sell or trade stocks without hassle. The biggest advantage of the ERC20 token standard is the facilitation of exchanging one ERC20 with another using crypto wallets.
ERC721 is the first ever Ethereum-based tokens standard created to facilitate the formation of non-fungible tokens. When compared to others, ERC721 is a more advanced and sophisticated token. For this reason, it is commonly used to create unique and rare non-fungible tokens that are not interchangeable in nature.
ERC 777 token standard is commonly used for issuance and security purpose based on the project needs. This Ethereum-based token standard is subjected to security regulations. The value representation of ERC777 token standards for financial assets like stocks and bonds.
ERC223 tokens have the same somewhat similar to the ERC20 tokens standards. The unique amalgamation of ERC20 and ERC223 eliminates the complex issues and allows developers to handle network transactions swiftly.
ERC721 is the most popular token standard for developing Ethereum blockchain-based business solutions. If you are planning to take advantage of this token standard for your business, then our experts are happy to help you. With our expertise in Ethereum token standards and blockchain technology, we can help you integrate the ERC721 token.
But before moving ahead with the development and integration process, it is also vital to know the overall cost. Like any other business solution development, the cost to create an ERC721 token depends on various factors. A careful analysis of all these factors is a must to know the exact cost of your project.
The cost to develop an ERC721 token depends upon various factors such as:
If you plan to move ahead with the ERC721 token, keep in mind all these factors determining the development cost. Getting in touch with an ERC721 token development company is recommended to get the exact idea of the development cost.
Usually, the development cost of an ERC721 token with basic features ranges from $5k to $10k. However, the development cost might vary based on the advanced features you are looking to add as per your business requirements.
During this phase, our support and subject matter experts connect with clients to gather their input. Our team will move to the next stages after a brief discussion about the project requirement and the client’s expectations.
Here during this stage, our ERC721 token standard experts carefully analyze the inputs from clients and offer the best possible solutions. During this stage, we provide budget estimation, the best tech stack, and estimated time for project completion. We will prepare a detailed project analysis to ensure that the result meets the client’s expectations.
After getting the final approval from the client, our development team will move forward to the development stages. We divide projects into smaller milestones, making it easy for clients to track the project development status and handle the project easily.
Our testing team follows rigorous testing methodologies to ensure that the end product meets clients' expectations. Any issue during this stage will be forwarded to the development team for resolution. In this way, we ensure that the project is secure and bug-free.
After ensuring that the project works as intended and is free from bugs, our team will move forward with the project deployment. With thorough market research, we will deploy projects on various platforms where it gets the maximum exposure it needs and reaches the target audience to make it a success.
All set to integrate the ERC721 token within your business process, then contact our support team ASAP. As a trusted ERC721 token development company, we help you leverage the benefits of Ethereum token standards and make your business processes more efficient.
Wondering why we are the best ERC721 token development company:
Our team has worked with leading blockchains such as Ethereum, Solana, Avalanche, EOS, Polygon, and others for over six years. With our affordable ERC721 token development services, we assist startups and enterprises worldwide leverage technology. We provide 360-degree blockchain development and deployment services to our customers.
Our support team will monitor your project 24*7 to ensure the smooth running of your blockchain project. With time tech updates, our support team ensures that there is no hindrance with the project and the client can focus on the business aspects rather than the tech part.
Our expertise in blockchain and Ethereum token standard development won’t come at a higher cost. Our blockchain team leverages its expertise to solve complex business issues and provide affordable solutions to our clients.
At RisingMax Inc., we believe in building long-term relationships with our customers. For this very reason, we provide cost-effective support and maintenance services to ensure the smooth running of the project post-deployment. From handling minor or major technical issues to timely updating project complexity, we provide all sorts of assistance to our clients.
Leverage the true potential of ERC721 with a reliable ERC721 token development company and dominate your business niche.
Want to build future-proof business solutions? Get in touch with our ERC721 token development experts TODAY.
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