ERC721 enabled the development of non-fungible, one-of-a-kind tokens. Before the introduction of ERC721, blockchain tokens were fungible or interchangeable every Bitcoin or Ethereum token is identical to any other. Users have already purchased almost USD 1 million worth of virtual pets just a few days after the introduction.ĬryptoKitties are Non-Fungible Tokens (NFTs) created using the ERC721 token standard on the Ethereum network.
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