Creating Your Very Own TRC-721 Token | Built on TRON blockchain

6 min readMay 20, 2021

Creating Your Very Own TRC-721 Token | Built on TRON blockchain

TRON has launched a new non-fungible token or NFT standard, called TRC-721, in order to open up new “hope for blockchain.”

TRON‘s first NFT standard protocol TRC-721 was officially announced on December 24, 2020. The introduction of this standard is expected to help with implementing various blockchain or distributed ledger technology (DLT)-based apps.

“TRON has released the information related to the new TRC-721 token development and NFT standard. It contains technical supporting documents of TRONs NFT and has created wide opportunities for the platform to be built on TRON blockchain.”

The TRC-721 is a standard interface that provides NFTs in the TRON network, and it is compatible with ERC-721, a standard that creates NFT on the Ethereum blockchain. The NFTs are provided on the TRON blockchain, processed by extension of the TRON link in chrome, and require a minimum balance of 350 TRX in the account to give NFTs. Customization of the name and symbol of users in the token is possible when it is issued.

The TRON is a new concept of NFT standard for TRC-721, derived from the crypto blockchain project. The TRC-721 holds a unique identity and enables to move of collectibles with the same value without any changes. Creating TRC-721 token standards will replicate the same as tangible assets in the real world. The TRC-721 holder gains ownership of the token and has privacy control over their data from a hack or vulnerable activities.

As noted in the announcement:

“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 now widely adopted (mostly on Ethereum) and being used by various DLT-enabled apps. They play an important role in complementing several Layer2 solutions, dApps (decentralized applications), and initiatives such as tBTC with considerable “economic value,” according to TRON. The blockchain developer claims that many DeFi projects have been integrating with NFTs in order to “enhance their ecosystems.”

As stated in the announcement:

“TRON believes that standardized NFTs will open up infinite opportunities on our platform. That is why we introduced TRC-721.”

The TRON team further noted that the standard interface allows apps to keep track of NFTs and also be able to transfer them on TRON. The TRC-20 token standard is “insufficient for handling NFTs due to each token in TRC-721 being unique,” and by developer need. They also mentioned that the standard of TRC-721 is expected to play as “important” a role as TRC-20 (which is quite similar to Ethereum’s ERC-20 token standard).

What is TRON?

TRON is considered a decentralized platform in blockchain that aims to develop a TRC-721 token with fast transaction, create digital content using distributed storage technology and provide cost-effective solutions to benefit users worldwide. TRON combines the distance between creators and consumers using peer-to-peer and blockchain technology to eliminate intermediaries..

What Are TRC-721 Token Development Services?

The TRC-721 token development services generate the non-fungible tokens on the TRON network that is highly compatible with ERC-721 in the blockchain platform. It can tokenize the collectibles into unique NFTs since it increases its values. The TRC-721 is capable of being deployed with ease since it is present in TRONs public chain platform. The TRC-721 development offers the users to gain exposure for its new trend and features.

Creating your own token will introduce its standard and provide in-depth knowledge for implementing various blockchain or distributed ledger technology (DLT) based platforms. The NFT standard of TRC-721 is widely accepted and adopted among users to imply it on the DLT platform. The standard interface present in TRON allows the platform to trace and record transactions of NFTs.

The announcement added:

“[The] 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 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.”

Developers should find it “faster” and “easier” to apply TRC-721 to their own products and apps because of TRON’s seamless public chain infrastructure, the platform’s developers claim.

Justin Sun, Founder at TRON, noted that NFTs have a huge addressable market and “untapped potential.” Sun believes that we’re “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.”

The TRC-721 token standard could improve the crypto economy and represents a big step forward in a more digital world, the TRON developers noted.

TRON is focused on supporting the decentralization of the Internet and is committed to developing the infrastructure for a decentralized Internet. The TRON protocol aims to serve as a blockchain-enabled decentralized operating system and claims to offer “scalable, high-availability, and high-throughput support that serves as the foundation for all decentralized applications in the TRON ecosystem.” The Protocol uses pluggable smart contracts to improve compatibility with Ethereum smart contracts.

Why Launch Your TRC-21 Tokens as an NFT Standard?

It is necessary to launch your TRC-21 tokens as an NFT standard since TRON believes that it creates many opportunities to develop the blockchain platform. It will be competitive to ethereum in the NFT platform as a flow, but ethereum stands tall in the ecosystem of NFT. Since the transaction fees have risen in NFT, smart contract initialization remains to reduce the charges using a consensus mechanism. TRON focuses on charging less fee for each instant transaction that occurs on this platform. It is more efficient for transactions to occur in TRON than the ethereum blockchain as it provides more speed with less traffic.

How to Create a TRC-721 Token?

TRON shows how to create a TRC-721 token based on the NFT standard. It is operated with the Smart Contract system to issue a token using the TRON network and utterly compatible with the ethereum blockchain. The TRC-721 token is eligible for trading in various exchange markets. TRON is an open-source platform that acts as a public blockchain platform, and creating processes is not that difficult.

Attractive Features in Building Your TRC-721 Token:

Here are some attractive features to be considered in building your TRC-721 token,

Safe & secure payment transaction.
Peer-to-peer decentralized network.
Swapping of tokens.
Track and record transactions.
No limitations to transfer data
High-speed transaction.
Highly scalable and customizable.
Smart contract integration.
In-built security system present with proof-of-stake consensus mechanism.

Final Words:

TRON aims to support the digital transition occurring worldwide for users to adapt to digital transactions in the blockchain world. It’s committed to making the entire platform decentralized to provide high throughput, scalability and availability of TRC-721 tokens for trade. The TRC-721 token development is the most discussed content worldwide because of its high standard value in the marketplace and efficiency towards lightning transactions using blockchain technology. Investors can claim their business benefits with proper assistance from getting in touch with any blockchain company to reap more profits in less time. Get clear guidance from their experts that best suits your business needs cost-effectively.