What Is Non Fungible Tokens?

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3 years ago

Non-fungible tokens (or “NFT”s) are a special class of assets on the blockchain characterized by being unique and non-interchangeable with one another for equal value.

An NFT is different from a cryptocurrency in that it is defined by metadata that builds-in a role, function, and value that are unique to it. Specifically, a non-fungible token can be a video game asset, a work of art, a collectible card or image, or any other “unique” object stored and managed on a Blockchain.

Non-fungible tokens can be traded on marketplaces (eg: OpenSea) like any other asset.

If you want to know more about this notion of non-fungible tokens, we invite you to read our article on the concept of “fungibility” to give you a better understanding:

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