Non-Transferable NFT – Binance Academy (What is it for?)
Non-transferable NFTs are tokens created to represent personal documents, such as course certificates, medical records, and digital identities. One example of this model is ERC-4671.
We are familiar with the well-known ERC-20 and ERC-721 tokens, which are commonly used for fungible and non-fungible tokens. However, ERC-4671 defines a standard for non-transferable assets on the blockchain.
In the context of a Binance certificate, this NFT guarantees authenticity and ownership, preventing fraud and unauthorized transfers since a document is personal and should not be traded.
Like this content? Follow my profile for security tips, scam reports, and on-chain investigation insights!
