Frequently Asked Questions
An ERC721 token is a non-fungible token (NFT) on the Ethereum blockchain, uniquely identifiable and used to represent distinct digital or physical assets. Its importance lies in enabling verifiable ownership, authenticity, and scarcity for assets like digital art, collectibles, or virtual real estate.
ERC721 supports non-fungible tokens, meaning each token is unique, unlike ERC20 tokens, which are fungible and interchangeable. Compared to ERC1155, which manages multiple token types in one contract, ERC721 focuses on individual, unique tokens, ideal for high-value assets.
Projects in digital art, gaming, virtual worlds, real estate tokenization, and intellectual property management can leverage ERC721 tokens. They enable creators and businesses to monetize unique assets and build trust through blockchain transparency.
The process includes ideation (defining token purpose), smart contract development (using Solidity and libraries like OpenZeppelin), metadata structuring (via IPFS), testing (on testnets), deployment (to mainnet), and integration with wallets or marketplaces, followed by ongoing maintenance.
Malgo conducts thorough smart contract audits, implements access controls, and uses decentralized storage like IPFS for metadata. We also apply gas optimization and anti-fraud mechanisms to protect tokens from vulnerabilities and unauthorized actions.
