The craze for NFTs has been surging to the sky. Every individual wants to own one, and every creator desires to mint their work into an NFT to relish the sense of ownership to the fullest. Nothing uncanny here, as the creators have been deprived of tasting the ownership of their works for a long time by middlemen. NFT token development are more like saviors for digital creators.
NFTs, bring with them some exciting features like security, uniqueness, transparency, and indivisibility all in one. These features make NFTs stand out from the crowd. Over the years, the creators never got any authority or royalty on art created by them once it is sold, but NFTs make this possible. The creator, the owner, the previous owner, all these data are recorded and can be viewed by everyone in an NFT. Also, every time an NFT is sold, a small percentage of the price is transferred to the creator as royalty. No data can be hidden as all the data concerned with an NFT is transparent and can be viewed by anyone.
These features of NFT create a new era in the virtual world where creators get to enjoy royalty and owners get to enjoy the sense of owning rare artworks. Also, there is no chance for any individual to own a duplicate NFT, as NFTs cannot be duplicated. A secure, unique, indivisible asset.
ERC-721
The first, foremost standard that was practiced to develop an NFT. It implied a unique address to the token, taking it straight to the owner of the token. As a smart contract is implemented to it, keeping a record on the transfer of ownership is also now easy.
