Consequently this type of token is fungible.

What is the meaning of non fungible token. What are Non-Fungible Tokens. NFTs contain unique identification codes and metadata which distinguish them from each other. For simplicity associate fungible with replaceable or interchangeable.

This means that data can be stored globally on thousands of servers. NFTs cannot be replicated counterfeited inflated and have ownership guarantees. One bar of gold can be swapped for.

NFTs are built on blockchain technology making them very secure. Anything fungible is replaceable with something that is of an equal value. Non-Fungible Tokens have also enabled gaming and blockchain to join forces.

Each unit is identical in nature and value. Non-fungible tokens or NFTs are cryptographic assets on blockchain with unique identification codes and metadata that distinguish them from each other. NFTs use various token standards and deploy different types of smart contracts.

Non-fungible tokens are tokens that are non-fungible meaning that they are unique and cannot be replaced. It therefore depends on a cryptocurrency and the ecosystem associated with it. Whats a blockchain you ask.

A non-fungible token NFT is a unit of data stored on a digital ledger called a blockchain that certifies a digital asset to be unique and therefore not interchangeable. A 10 bill can be exchanged for two 5 bills. Access to any copy of the original file however is not restricted to.