Nonfungible tokens, or NFTs, represent unique digital or physical assets. They can represent a piece of art, a dinner for two, or even a house. As digital assets, they are easier to trade on the Internet.
To better understand nonfungibles, let’s first look at their opposite—fungibles.
A fungible is something interchangeable like dollar bills, shares of common stock, or commodities like corn and oats. For example, you go to a vending machine to buy a soda, put in a dollar bill, press the button, and get your drink. Depending on the price, you get change back. Put in another dollar bill, press the button, and you get another soda and change.1 The dollar bills are fungibles, in that they are interchangeable and represent equal value. ...
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