TRON Launches NFT Standard TRC-721 to Open New Prospects for Blockchain

TRON is excited to unveil its first NFT standard protocol TRC-721 on December 24, 2020! The launch of TRC-721 will open up huge possibilities for new blockchain applications.

Each NFT contains owner ID, rich metadata, safe file links and other identifying information that is recorded in its smart contract. It is this information that makes each NFT unique and unexchangeable.

NFT standards are widely used in different fields of blockchain. It plays a key role in some Layer2 solutions, DApps and projects like tBTC with huge economic value. More and more DeFi projects try to integrate with NFTs to enhance their ecosystems. We believe that standardized NFTs will open up infinite opportunities on TRON as well. That is why we introduced TRC-721.

What is TRC-721

Motivation

Why TRC-721

Developers will find it faster and easier to apply TRC-721 to their own products and applications thanks to the efficient and cost-effective public chain infrastructure of TRON. It is without doubt that TRC-721 will be adopted in more use cases in the future.

Justin Sun, TRON Founder & BitTorrent CEO, commented that “NFTs have huge untapped potential. We are likely to find the next big thing in blockchain being the TRC-721-compliant applications and base protocols that map physical and virtual assets onto the blockchain.”

The standard of TRC-721 opens up new prospects for blockchain. It makes the crypto economy stronger, the blockchain more unique, and its applications more likely to happen. This is a big step forward in a more and more digitalized world.

About TRON

In July 24, 2018, TRON acquired BitTorrent Inc., an internet technology company based in San Francisco. The distributed technology designed by BitTorrent Inc. is smart and highly scalable, and keeps creators and consumers in control of their content and data.Over 170 million people use BitTorrent products every month. BitTorrent Inc.’s protocol delivers 40% of the world’s Internet traffic every day.

TRON Foundation

December 24, 2020

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