What Does Fungible Mean In NFT?

What Does Fungible Mean In NFT?


NFT means Non-Fungible Token here; Fungible turns the table of this token. In general, we know that currencies and tokens are fungible, which means they can be exchanged.

So, for example, in terms of bitcoin, one bitcoin is equal to another and can be exchanged from one form to another. But NFT changes the concept of crypto.

NFT can be sold and bought, but each NFT is different from another; all are unique and irreplicable. There is a digital representation of assets, and all assets are different from one another as they are linked with digital passports. This makes them identical and not transferable.

Rate this answer!
Popular Questions