Blockchain is one of the emerging complex and secure technologies in this digital era. Many people used this technology for development, security, privacy, work reduction, etc. Besides, the blockchain is widely used in many major industries such as finance, banking, healthcare, supply chain management, insurance, etc. Blockchain technology gave birth to many new crypto tokens, crypto coins, and open-source blockchain platforms. There are many platforms for creating tokens, but one of the popular token development platforms is Tron.
Tron is a decentralized blockchain platform and a crypto coin that was first invented by Justin Sen in 2017. Also, he raised about $70 million through the ICO platform. Since the invention of Tron, it has grabbed the attention of many investors, startups, and traders. Besides, Tron gained huge popularity in the blockchain space. The Tron network is promoting decentralization and creating the infrastructure for a decentralized platform. Besides, the Tron network is recognized as the powerful p2p decentralized blockchain system that offers scalability, high availability, and high-throughput support. The Tron also uses an innovative and pluggable smart contract platform to improve compatibility with Ethereum smart contracts.
As everyone knows, the Tron has two popular TRC token standards such as TRC10 and TRC20. But in recent times, the Tron network introduced a new token standard named TRC721 which is also known as an NFT standard. This token standard contains technical supporting documents of Tron’s NFT. Besides, the TRC721 standard created wide opportunities for the platform to create non-fungible tokens on the TRON blockchain. Currently, there is great hype for NFT so many startups are showing interest in TRC721 token development and creating a TRC721 token with exemplary features.
If you aren’t aware of how to create your TRC721 token? Then this guide will be helpful for your NFT business and make profits on it.
Let us begin…
What is TRC721 Token?
TRC721 is the newly announced Tron token standard and it has the capability for creating non-fungible tokens under the Tron blockchain. TRC721 is the first non-fungible token standard on the Tron network and it plays an equal role to ERC721. This kind of token is non-interchangeable so it has a unique value and can not be exchanged on the same type. This standard allows any digital or physical collectible to launch a non-fungible token on the Tron blockchain. The collectibles can be digital art, signs, game tools, logos, stickers, GIFs, or whatever.
The TRC721 token can be able to represent any type of tangible or digital assets. This means it opens the gate for a wide range of people to own the data related to the specific tangible or digital asset. The TRC721 token offers transparency, scalability, and security to the users. The non-fungible tokens or TRC721 tokens issued on the Tron blockchain will be processed by extension of the Tron link in chrome. Besides, it requires a minimum balance of 350 TRX in the account to afford non-fungible tokens.
As previously said, the TRC721 standard token is the new concept in the Tron network. But this NFT token standard is completely derived from the crypto blockchain project. The TRC721 token holds a unique identity and Creating TRC721 standard tokens will replicate like tangible assets. Here the token holder only gains ownership of the TRC721 token.
TRC721 token example – Crypto flowers is a game like Crypto kitty. Here you can collect and breed digital flowers. You can collect crypto flowers by using a TRC721 token. By using smart contracts and the Tron network, you can exchange unique crypto flowers.
Now, let us see…
Popular NFT Platforms under TRC721 Tokens
As we know, NFT is already in the hype in the global marketplace. Every digital collectible is becoming an NFT and owners are selling them at higher prices for making profits. When it comes to the TRC721 token, some best non-fungible token platforms are prevailing in the marketplace. Here is the list of popular NFT platforms that are compatible with TRC721 tokens.
- NFT for Games
- Art Tokenization
- NFT for Sports
- Real Estate
- Lending platform
- Fashion Industry
- NFT for music
- Content Subscriptions platform
These are the best platforms that come under the TRC721 standard tokens.
Notable Reasons to Launch a TRC721 Token in an NFT Marketplace?
At this current time, every trader and investor is showing interest in non-fungible tokens. Because it has high potential benefits and acts as a digital collectible. Even many big companies are buying non-fungible tokens to make profits. So It is necessary to create your own TRC21 token in an NFT standard. Tron network believes that the TRC721 token standard is creating many opportunities for startups and entrepreneurs in the blockchain space.
Experts believe that the TRC721 token will be competitive to Ethereum in the NFT marketplace. But the Ethereum network stands top in the NFT ecosystem. In recent times, transaction fees have risen in the NFT marketplace. So smart contract initialization remains to reduce the charges by using a consensus mechanism. Tron network is currently focusing on charging less fee for each instant transaction in the NFT platform. So launching the Tron-based NFT on the TRC721 standard will help you to reach greater heights in the marketplace. There are also other reasons to launch a TRC721 token. Such as
TRC721 tokens are usually controlled by an owner and also guarded by the owner through the private key. In general, TRC721 tokens are created with the Tron network and some cutting-edge technologies. So tokens will not be affected by technical issues or errors in the server. If you are an owner of the TRC721 token, then you can transfer the token to any account.
TRC721 tokens are developed under the Tron blockchain network and we already know that Tron is a decentralized blockchain platform. Thus, every TRC721 token transaction happening on the platform is transparent. Besides, the deposit/withdrawal of the TRC721 tokens will also be transparent.
As previously said, the TRC721 tokens can be purchased and sold in an NFT marketplace by using a decentralized custodial service. If the user shares the TRC721 token with many communities. Then the TRC721 token will be interoperable to handle the contributions without interfering with the private data.
The TRC721 tokens are usually indivisible when it comes to their utility. For example, a plane or train ticket cannot be purchased & used by a different person. Because the person who is purchasing that specific ticket can only utilize the seat.
Uniqueness is one of the major reasons for creating the TRC721 tokens and launching them in the NFT marketplace. The TRC721 Tokens are unique because each token is different and they are not interchangeable with other tokens of the same type.
By seeing these many benefits, the TRC721 token development is becoming one of the most trending blockchain services in the global marketplace.
How to Create your own TRC721 Token For Business?
The non-fungible token creation process will be involved in developing a TRC721 token for your business. It is operated with the Smart contract to deliver a non-fungible token using the Tron blockchain and compatible with the ethereum blockchain platform. As we know, Tron is an open-source blockchain platform that helps in the token creation process. As we are living in the modern world, creating a TRC721 token is not a hard task. In recent times, many showed interest in developing the TRC721 token by using the Tron network with NFT tools and support. Thus, for creating a TRC721 token, you must use the powerful Tron blockchain network and NFT tools.
When it comes to TRC721 token development, you can create a secure TRC721 token in two methods. First method – If you are an experienced token developer in the Tron network and have in-depth knowledge about the TRC721 token standards & NFT supporting tools. Then you can create a TRC721 on your desired programming language by considering some important factors. Such as
- Token name
- Token symbol
- The number of TRC721 tokens to be generated
- Smart contract
- The collectible that you are going to use for developing the TRC721 token.
By considering these factors, you can start creating your own TRC721 token. In case, you have made any mistake in the programming part or any other part. Then it negatively impacts the whole TRC721 token development process. Thus, be careful when you generate a TRC721 token by yourself for launching in the NFT marketplace.
The second method – you can hire a pool of experienced blockchain developers from the reputed TRC721 token development company in the industry. Because the Tron token development firm will assist you right from ideation to deploying your TRC721 token in the NFT marketplace. As we know, NFT is the recent trendsetter in the blockchain industry. It is due to the NFT protecting digital properties and also emerging as the great blockchain business model in the industry. In that sense, it is the right and best time to create your TRC721 token by reaching out to the best Tron token development company.
Desirable Features of TRC721 Token Development
In every guide, we mention that features play a major role when it comes to the business. Features that you integrate into the TRC721 token will help you to become a successful entrepreneur in the industry. Here is the list of salient features that come under the TRC721 token development.
- Secure payment transaction.
- P2P decentralized network.
- Swapping of tokens.
- Track transactions.
- Record transactions
- No limitations to transfer data
- High-speed transaction.
- Highly scalable
- Highly customizable.
- Smart contract integration.
- In-built tightened security system with proof-of-stake consensus mechanism.
You can get all these outstanding features from the best TRC721 token development service offering company.
How Much Does it Cost to Create a TRC721 Token?
When it comes to TRC721 token development, every startup will think about the cost of TRC721 token creation. The cost of TRC721 token development would be based on some important factors. Such as
- Business type
- Features of TRC721 token
- The design of the TRC721 token
- Number of TRC721 tokens to be generated
- The complexity of your TRC721 token project
- Location and size of your TRC721 token development team
- Ongoing support and maintenance
These essential factors will decide the TRC721 token development cost for your business. One can not predict the exact cost of developing a TRC721 token. But the cost of developing a TRC721 token will range from$5500 to $7000. However, the TRC721 token development cost might differ according to your business needs. To get the affordable TRC721 token creation team, you need to choose the best TRC721 token development company in the industry. One such TRC721 token creation firm is Zab Technologies.
Why Choose Zab Technologies For TRC721 Token Development?
Zab Technologies is an outstanding Tron token development company in the blockchain industry. We are specialized in offering all sorts of blockchain development services with impeccable outcomes at affordable rates. So far we have delivered many Tron token projects to our international clients across the globe. Zab Technologies has years of experience in the blockchain industry and we know that NFT is the trendsetter. So we provide the best-in-class TRC721 token development services with ideal features. Our experienced team of dedicated blockchain developers will help you to launch your own TRC721 token as per your business needs. We also offer effective 24/7 technical and customer support through the internet to all our international clients.
If you are planning to develop a TRC721 token on your collectible at a budget-friendly price. Then choosing Zab Technologies will be the perfect solution for your NFT business.
Talk to our experts and create your own TRC721 token now!