However like cryptocurrencies you cannot trade or exchange them equivalently.

What are non fungible tokens used for. Non-fungible token means it cant be replaced with another token. A regular ERC-20 token can be interchanged with any other ERC20 token. What are Non-Fungible Tokens NFT.

Just like in the real world no two assets can exhibit similar characteristics or value similarly each tokenized asset on the blockchain has unique characteristics. Among the examples of utility tokens we can include BAT Basic Attention Token which is widely used by the decentralized browser Brave. But Non-Fungibles cannot carry the same value.

Non-fungible tokens or NFTs are digital assets that are indivisible and provably unique. Non-Fungible Token NFT The last token on the list is the non-fungible token ie the non-exchangeable token. Non-fungible token doesnt mean it can be sold.

ICOs have made it possible to popularise the notion of token understood as a digital token operating on a blockchain and allowing the use of an application or the. Fungible in the crypto world means you can exchange 1BTC for another 1BTC or any other tokens. The NFTs are digital assets that are unique creating digital scarcity.

What are Non-fungible Tokens. For that reason non-fungible tokens solve the interchangeability problem. Therefore each NFT token tracks a different asset.

What is NFT non-fungible token. For Non-Fungible Tokens real-world applications of smart-contracts lie ahead. For example 1 Golem-ERC20 token is identical to another Golem token.