Coming from Ethereum

A comparison on NEP-171 and ERC-721

NEP-171 Token Standard

This is the non-fungible token standard on NEAR. It was carefully designed with input from several experienced developers and creators, and includes native support for royalty payments.

Introduction

In the three years since ERC-721 was ratified by the Ethereum community, Non-Fungible Tokens have proven themselves as an incredible new opportunity across a wide array of disciplines: collectibles, art, gaming, finance, virtual reality, real estate, and more.

This standard builds off the lessons learned in this early experimentation, and pushes the possibilities further by harnessing unique attributes of the NEAR blockchain:

• an asynchronous, sharded runtime, meaning that two contracts can be executed at the same time in different shards

• a storage staking model that separates gas fees from the storage demands of the network, enabling greater on-chain storage (see Metadata extension) and ultra-low transaction fees

Read more https://nomicon.io/Standards/Tokens/NonFungibleToken/Core#motivation

The NEP-171 is about the equivalent of the ERC721. It's just a guideline to enabling other platforms to interoperate with assets, giving them confidence the nft_transfer and ownerhip verification.

Anytime you see the nft_ in front of a function, this is help indexer identify what's going on. In Ethereum land, every contract indexes on its own chaos.

Core Functionality | NEAR Protocol Specification

Royalties

We took it a step further and added a payouts system which gives marketplaces less excuses by giving the, easy access to royalty expectations.

Royalties and Payouts | NEAR Protocol Specification