Because each token is unique they are not mutually interchangeable.

Non fungible token is. Non-fungible is an economic term that you could use to describe things like your furniture a song file or your computer. A new platform such as NIIO art can simply demonstrate their digital works through blockchain technology. Hence bitcoins and altcoins are used for medium size commercial transactions.

A non-fungible token is a digital asset that does not have fungibility meaning it is not interchangeable with any other. When the customer borrows or buys Art from the platform they can display it. NFTs usually provide digital ownership as well as hold real-world prices.

NFTs give a person proof of ownership. Moreso NFTs indicate a wide variety of tangible and intangible items. This video on What is NFT covers all the important concepts of NFTs like What are NFTs What are Non-Fungible Tokens how do NFTs work how are NFTs diffe.

Non-fungible tokens are a step further from the comparatively straightforward definition of cryptocurrencies. Some NFT-focused developers have also built their own alternative blockchains including Dapper Labs. Most non-fungible tokens are built using the ERC-721 and ERC-1155 standards which allow creators to issue unique cryptoassets via smart contract.

Artist can attach stipulation to an NFT and ensure that to get some of the procedure every time it gets resold. The NFTs are digital assets that are unique creating digital scarcity. Non-Fungible Token creates more opportunities for new business models that didnt exist before.

NFT or Non-Fungible Token is a digital asset on the blockchain with a unique identifier number and other meta-data. However like cryptocurrencies you cannot trade or exchange them equivalently. NFT stands for non-fungible token.