In the blockchain world, the token is not a new term. Every crypto and blockchain enthusiast might be aware of tokens and their benefits in the marketplace. When compared to crypto coins, most traders are preferring tokens for exchanging and payments. As we know, this futuristic revolution and the emerging blockchain technology paved the way for crypto token creation. The concept of the crypto token is very simple. It acts as a mode of payment for merchants and customers in the digital global market. The rise of crypto coins and tokens has introduced many finance platforms. Speaking of which, Non-fungible tokens come into the picture.
A non-fungible token is the latest crypto platform and gained massive popularity among crypto traders and investors. The non-fungible token is shortly known as the NFT which is blockchain-based tokenization of any collectible item. In general, NFT is a digital certification for the authenticity of a digital product. These kinds of tokens are unique, non-identical, indivisible, and non-interchangeable. NFTs cannot be traded because each token carries a certain value. All NFTs are completely developed on an NFT token standard like ERC721, TRC721, or BEP721. These powerful standards store the transaction data securely.
An NFT can be represented as any physical asset or digital asset. Such as art, GIFs, painting, Tweets, music files, image files, audio files, domain names, trading cards, virtual real-estates, and more. You can even create an Non Fungible Token with gaming characters. That’s why NFT like CryptoPunks are more popular. Currently, many startups and business entities are showing interest in developing their own NFTs like Cryptopunks to yield profits.
In this article, let us discuss how to create an NFT like CryptoPunks and other factors of NFT development.
What are CryptoPunks?
CryptoPunk is the first-ever non-fungible token launched using Ethereum’s ERC721 token standard. This non-fungible token was first introduced in June 2017 by American studio Larva labs and it has gained more popularity at its beginning stages. The CryptoPunks have uplifted the popularity of NFTs among the traders, investors, gaming audience, and common audience.
The CryptoPunk is a 24×24 dimensional and 8 bit-style image representation. These dimensions and images represent the London-punk style characters with different character designs. As of now, there are more than 10K punks and all the punks are unique and distinct from each other. The main reason for the popularity of CryptoPunks is, this platform has unique varieties of punks, and its ideal set of features captured the interests of the crypto and gaming audience.
In recent times, the popularity of NFT like CryptoPunks is increasing in the global NFT marketplace. This rapid rise in popularity has made creating an NFT like CryptoPunks a major business model in the world of NFTs. One can earn more profits by launching an NFT like CryptoPunks. That’s why there is a great demand for the best NFT development services for developing their own NFT like CryptoPunks.
Token Standards Used for Creating an NFT like CryptoPunks
For developing an NFT like CryptoPunks, more than two frameworks across different networks will be utilized for creating and deploying the token in the NFT marketplace. As previously told, NFTs are indivisible and interchangeable so NFT like CryptoPunks can be exchanged across various DLTs. For generating an NFT like CryptoPunks, different types of token standards can be used for the development process, such as:
- ERC721 – Ethereum Blockchain
- TRC721 – Tron Blockchain
- BEP721 – Binance Smart Chain
How to Develop an NFT Like CryptoPunks?
We are living in the modern world and have cutting-edge technologies right now. So making an NFT like CryptoPunks is not a difficult task. We know that CrytoPunks was created using the ERC721 standard. So if you are creating an NFT like CryptoPunks then you need to use the ERC721 standard and some NFT tools. You can create a non-fungible token like CryptoPunks in two methods. Firstly, if you are a well-experienced blockchain developer and have strong knowledge of the ERC721 standard. Then you can create and deploy an NFT like CryptoPunks on your desired programming language by choosing the collectible that you are going to use. If you make a simple mistake in the programming part. Then it negatively impacts the NFT development process.
Secondly, you can connect with a genuine and best NFT development service provider in the crypto sector. They will assist you to develop a non-fungible token like CryptoPunks as per your business requirements. Besides, they will have a pool of well-experienced blockchain developers to handle your NFT project in a hassle-free manner.
At this current time, non-fungible tokens are the recent trendsetter in the global marketplace and blockchain space. NFT like CryptoPunks protects the digital gaming properties and emerges as the best blockchain business idea for startups. In that sense, it is the right time to develop your own NFT like CryptoPunks by choosing the trustworthy NFT development service provider in the industry.
Hello Jacob, This one here is a nice article, that you explained how to create a non-fungible token. But, I wonder, How creating a non-fungible token can help you to make money? I am sure that the above terms are not explained in this blog. Well, no worries, I am here.
You see, the Non-fungible tokens’ code has unique qualities. They are limited, unique and indivisible. Despite the code’s qualities, In general, NFTs are easily transferable, trustworthy and they hold ownership rights. With a precious NFT art like crypto punk, you can back them with an NFT on any Blockchain. Not only ethereum, Binance and the Tron Blockchain. Then you can post a sale on any NFT marketplace like rarible, opensea and Binance marketplace. You can earn in cryptos in a hassle-free way by this technique.
But, How to back your arts into NFTs? and what should you do in the first place? Well, you can have a business consultation with the top blockchain experts here >> https://bit.ly/3mWQgsj
Select the NFT creation option and you can have your conversation with the Blockchain experts. Happy day 🙂