To tokenize means creating a token representing a good or an asset.

Examples of non fungible tokens. A Non-Fungible Asset is an asset that contains unique qualities. NFT stands for non-fungible token. The first example of Non-Fungible Tokens was through a project called CRYPTOPUNKS.

It gains its value from the good or asset it represents. They can be used for a variety of transactions financial and non-financial and are expected to. Non-fungible tokens NFTs are a special type of token which are not interchangeable with other tokens.

Every NFT exhibits a different kind of functionality or aspect and is not comparable to other NFTs. Gods Unchained Cards ENS names CryptoKitties and Decentraland land are just a few examples of supported non-fungible tokens. These unique qualities add or subtract value to the asset itself and all assets are different from one another.

But I like to have it because it is one that you typically dont find in Non-Fungible things. A digital kitty was sold for up to USD 120000 on CryptoKitties by following this principle. The first property is the most important here and the other is not usually part of the definition.

This enabled users to sell buy and store 10000 unique collectible characters with the proof of ownership being stored on the Ethereum Blockchain. Similarly front row tickets of theatre are much more valuable than tickets for the back row. These things are not interchangeable for other items because they have unique properties.

An NFT has unique characteristics which means that it can not be replaced or exchanged for an identical token. There are several examples of nonfungible items in the real world such as drama event tickets paintings etc. For example one top shot NBA NFT clip by.