BLMP: ERC-721 Non-Fungible Token Shifted to Final Status

SINGAPORE, June 27, 2018 /PRNewswire-USNewswire/ -- Ethereum Request for Comment ("ERC") #721, the non-fungible token standard primarily authored by William Entriken shifted to final status on June 21st. This is huge news both for the blockchain community and the virtual goods industry, and with this update, branded virtual assets should see a massive uptick in value.

Author of ERC-721

Entriken is the principal author of the ERC-721 token standard which is an important feature of Ethereum. This token is non-fungible, in other words, one cannot be exchanged for another because each is unique. Using the ERC-721 token standard, users can buy and sell items on the blockchain. This token was first catapulted to public attention with the introduction of CryptoKitties. Additionally, this technology has widespread applications for a range of blockchain technology projects.

Entriken has a background in auditing software architecture as well as software development. Entriken is also the main author of ERC-165 and has been personally responsible for spearheading changes in the approval process of ERC. This experience has made him invaluable to the BLMP team as he joined their advisory board earlier this year. His assistance has helped expedite the development of BLMP's new platform which disrupts the virtual goods market with the introduction of branded in-game and in-app items.

ERC-721 and Collectibles

The finalization of ERC-721 is critical for many blockchain initiatives, and with its new status, there are numerous industries that will benefit, such as video games, virtual reality, augmented reality, and real estate to name a few. Unique tokens and branded virtual goods are a natural fit because distinct tokens can be used as collectibles which then involves economic factors like scarcity that drive up value of these assets while also giving users the ability to verify its validity at the same time. As ERC-721 is more widely adopted, users can look forward to building a portfolio of virtual assets with a known value and provenance which will promote their use and sale in perpetuity.

BLMP & EPIK Token

With William as a major contributor to BLMP's innovative new blockchain platform, the EPIK token project is positioned as the future of digital collectibles. The EPIK token project consists of both ERC-20 and ERC-721 tokens along with an EPIK Wallet for consumers to collect branded items within their favorite games and other virtual environments. This groundbreaking platform has already gained tremendous traction with access to over 1,000 brands and millions of monthly active users pre-launch.

SOURCE Blockchain Licensing Marketplace