ICON IRC-3 Token Standard (Non-Fungible Token Standard)

Greetings from the ICON team,

ICON’s non-fungible token (NFT) standard, IRC-3, has shifted its status to the Last Call. The review period is set to run until July 13th, and interested parties can propose changes through PR before final acceptance. The IRC-3 token standard interface was first proposed in 2018, to standardize the issuance and trading of non-fungible assets on the ICON blockchain.

NFTs represent unique ownership of digital or physical assets that are distinguishable and inherently non-fungible. A diverse universe of assets can be represented by NFTs, including physical properties such as homes, artworks, or virtual assets such as collectible cards and other one-of-a-kind unique assets.

Inspired by the ERC-721 standard, IRC-3 covers the broad features of NFT use cases, including ownership representation of digital or physical assets, and consignment to third party operators for token transfers.

The standard can be found on the ICON Non-Fungible Token Standard IIP page, including its specifications and a sample SCORE implementation. A community-driven NFT group was also formed during the most recent ICON developer call, where interested community members can gather to collaborate and build around the NFT technology.

Thank you,

ICON Foundation

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