ERC-4519

ERC-4519 is an Ethereum standard for creating non-fungible tokens (NFTs) that represent physical assets, bridging the digital and tangible worlds. It extends the ERC-721 standard by incorporating mechanisms to securely link NFTs with their physical counterparts, enhancing the utility and management of real-world assets on the blockchain. ERC-4519 facilitates unique features like assigning Ethereum addresses to physical assets and users, allowing for verified interactions and transactions. This standard supports dynamic ownership and usage rights, ensuring secure, authenticated, and traceable asset management. It aims to revolutionize how physical assets are tokenized, managed, and transferred, offering a robust framework for assets such as IoT devices, real estate, and collectibles.

How it wroks: