What Role Does Token Metadata Play in an ERC-721 Contract?

Metadata provides the descriptive information for a non-fungible token, such as the asset's name, description, image link, and specific attributes (traits). It is essential because the blockchain only stores the token ID and ownership.

The metadata, usually stored off-chain (e.g. IPFS) and referenced by a URI in the contract, gives the token its identity and value proposition.