6.1 ERC-721 Token Standard Usage


At the foundation of Parax’s digital asset representation lies the ERC-721 non-fungible token (NFT) standard. Each physical asset admitted to the platform is initially tokenized as a unique ERC-721 token, encapsulating the asset’s identity and ownership metadata. This standard enables provable scarcity and indivisibility, ensuring each asset’s singularity is maintained on-chain. The ERC-721 token serves as the primary registry entry and provenance anchor for the underlying physical item.