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Crypto Glossary/Non-Fungible Tokens

Non-Fungible Tokens

Also known as NFTs, these are digitally-issued tokens on the blockchain that are unique and hence, not fungible. They are often used to disseminate digital art and other collectibles.

Non-Fungible tokens, popularly knows as NFTs, are simply unique tokens minted on a blockchain network. The fact that they are not fungible, means they can be used to create collections of digital collectibles that all vary among each other and can be used to verify ownership.

Given their traits, they are often used to sell digital art, especially unique 1/1 pieces and collectibles like trading cards for web3 games.

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