The first NFT protocol of the TRON network is now live. TRC-721 is the new protocol that will help TRON attract more crypto-enthusiasts. Justin Sun announced the new protocol on his Twitter account, saying:
“The launch of #TRC721 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.”
Excellent Growth Opportunity for TRON
NFT tokens are very popular in the blockchain community. They provide that chance to save the value of assets on a blockchain. There are many use-cases for them – especially in layer2 solutions. DeFi projects are great places to use NFTs for storing and exchanging values. TRON wants to have a share in this innovative market by providing a practical protocol. TRC-721 is the first BFT protocol in this blockchain but won’t be the last for sure.
The standard protocol on TRON makes it possible for applications to transfer NFTs easier on the blockchain. The most crucial difference between TRC-721 and TRC-20 is the uniqueness of NFTs. TRON developers needed a better protocol to handle the unique data of NFTS. That’s because TRC-721 is born.
The TRC-721 protocol is an excellent solution for storing the value of real-world assets on the TRON blockchain. According to the announcement from TRON:
“TRC-721 standard allows each token to have its unique value, making it possible to move real-world items on-chain in a truly digital form without compromising their unique values. Tokens created through the TRC-721 standard will be able to represent any type of digital or tangible assets in the real world, which opens the way for people to own and manage data related to either a specific tangible object or a receipt, and thus create positive effects on industries susceptible to fraud, plagiarism and counterfeit.”
Launching an NFT protocol on TRON surely helps the protocol find new developers. When developers have sufficient tools to create and distribute their dApps on a public blockchain better, they will attract more regular users. NFTs are great options for bringing mainstream users to the blockchain world. They have the gamification specification that incentivizes people.
TRON is very optimistic about the future of NFTs on the blockchain. They believe that creating these tokens is TRON can bring many more opportunities to the community. Justin Sun, TRON Founder & BitTorrent CEO, said:
“NFTs have huge untapped potential. We are likely to find the next big thing in the blockchain being the TRC-721-compliant applications and base protocols that map physical and virtual assets onto the blockchain.”
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