In early 2018, ERC-721 was officially created in GitHub. ERC stands for Ethereum Request for Comment and 721 is the issue number created in GitHub where the initial conversation of the standard took place.

ERC-721 was the first standard interface for defining digital goods on Ethereum. For non-technical people, ERC-721 offers a universal method to build smart contracts that track ownership of digital goods, coined non-fungible tokens (NFTs). This standard provides a common method for decentralized platforms to display, manage, and track information relating to these NFTs.

The ERC-721 standard opened up an entirely new class of assets, ownership, and marketplaces much of which is still largely untapped but is already proving to be popular. In any case, these are some of the use cases we noted down in early 2018, they still feel valid today ...

Referral links will Β find a new life. Royalty splits will be on every piece of media

For creators, artists & galleries πŸ–ŒπŸŽ¨

Build new experiences and revenue streams with authenticated digital issuance

  • Branded digital gallery
  • Solo artist works
  • Exclusive content for fans
  • Certificates of authenticity & provenance

For brands & agencies πŸŽ₯ ⚑

Create engaging digital experiences for fans and followers

  • Digital rewards
  • Branded collectible giveaways
  • Premium content access
  • Community Contests

For nonprofits 🌍 🌱

Raise funds and awareness by creating meaningful digital campaigns

  • Tokenized β€œadoptions” for charitable causes, e.g. planting trees
  • Fundraising campaigns with collectible digital memorabilia
  • Exclusive badges and rewards for community members

For entrepreneurs πŸ’‘ πŸ’Έ

Launch a global marketplace for digital or tokenized physical goods

  • Stock photos
  • Digital IP

For merchants & producers🍷 ⌚️

Authenticate physical goods

  • Surfboards
  • Fashion
  • Wine bottles