🎉 Karma Ksana's new episode of Crypto101 series

"What does NFT stand for?"

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Welcome to Crypto101, your guide to the crypto world.

NFT stands for non-fungible token. What does non-fungible mean? Let’s say you passed by a vending machine and decided to buy coke. You wouldn’t be spending time picking which 5 dollar bill to use because they have identical value. In other words, they are fungible or replaceable. A fungible item can be broken down into smaller units and can be easily traded for such as money or cryptocurrencies.

Back to the scenario. Unfortunately, you spilled your coke on your signed Air Jordan shoes. A new pair of the same kind and brand wouldn’t share equal value because it’s irreplaceable and unique. It’s non-fungible.

To wrap up, we know that NFTs and cryptocurrencies are not the same because NFTs are non-fungible while cryptocurrencies are.

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