Creating a non-fungible token
Non-fungible is something of such a nature that one part or quantity cannot be replaced by another equal part or quantity in paying a debt or settling an account. The Ethereum community defines ERC-721 as the standard for creating and managing non-fungible tokens orNon-fungible tokens (NFTs). These tokens can be used to represent a physical or virtual asset. Some examples are land, artwork, and virtual collectables. NFTs are also suitable to represent assets such as loans that have negative values. ERC-721 is inspired by ERC-20 and adds additional features to make each token unique. In this recipe, you will learn the basics of creating such assets.
Getting ready
You need to have a working installation of Ethereum (geth, Parity, ganache, and so on) or the Remix IDE to test this recipe.
It would be great if you know how the ERC-20 standard works before stepping through this recipe. Go through Chapter 5, Tokens and ICO, to learn more about this.
How to do it…
To check...
