This is in contrast to cryptocurrencies like Bitcoin on lightning and many network or utility tokens that are fungible in.

Example of non fungible token. Every NFT exhibits a different kind of functionality or aspect and is not comparable to other NFTs. A unique sneaker in a limited-run fashion line. What Is a Non-Fungible Token NFT.

A closer look at Fungible and Non-Fungible Tokens Fungible tokens are the most popular type of tokens in the cryptocurrency space. The first example of Non-Fungible Tokens was through a project called CRYPTOPUNKS. Examples of digital items include digitized documents and digital files images and other media files such as audio or music and videos and digital artworks among others.

Non Fungible Token is the best example of how a token can be used to create scarcity which results in the creation of value for that token. Other everyday examples that fall under the fungible category are groceries notebooks etc. A unique digital artwork.

Non-fungible tokens or NFTs are cryptographic assets on blockchain with unique identification codes and. Non-Fungible Tokens NFTs are cryptographic tokens that are unique in nature and are not similar to any other type of Non Fungible tokens. A non-fungible token NFT is a special type of cryptographic token which represents something unique.

Non-fungible tokens NFTs are a special type of token which are not interchangeable with other tokens. ERC-721 tokens are the most common example of non-fungible tokens. To tokenize means creating a token representing a good or an asset.

An NFT has unique characteristics which means that it can not be replaced or exchanged for an identical token. Blockchain technology creates a digital record of each transaction for the non-fungible asset. These are unique assets with no value equivalent to them other than another NFT.