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A NFT (non-fungible token) is a special cryptographically-generated token that uses blockchain technology to link with a unique digital asset that cannot be replicated. Non-fungible tokens differ from popular cryptocurrencies such as Ether (ETH), Bitcoin (BTC) and Monero (XMR), which are fungible; for example, you can exchange one Bitcoin for any other Bitcoin. Although the usage of NFTs has spread in various industries, they're synonymously associated with the gaming and digital collectibles sectors and are most commonly found as a specific Ethereum token built on the ERC-721 standard. However, in 2021, their use is starting to spread to other blockchains like Binance Smart Chain's BEP-721 protocol.

"The fungibility of money is a characteristic which contributes to the quality of money. Fungibleness is itself related to the technical ability to associate a unit of currency with its past instances of exchange. This history is analogous to the identity of money. The identity of an individual unit of exchange is increasingly important as cash becomes less common, and banks require more information about the provenance of money. Private currencies, including Bitcoin and Libra, are themselves subject to tracking. The prior financial-and potentially political-activities of a user determine the fungibility of the currency they hold. Different money technologies provide varied levels of privacy, while cryptocurrencies offer users the potential to choose the level of information they share."

Money facilitates business on the market by serving as a medium of exchange, store of value, and a unit of account. The Federal Reserve Bank of St. Louis lists six characteristics of money: durability, portability, divisibility, limited supply, uniformity, and acceptability. The latter two of these attributes are directly impacted by a currency's fungibility. In order to satisfy Berg's (2020) fungibility criteria, "each unit of a currency, or any commodity used in a money function, should be indistinguishable from others of the same denomination," and "an individual unit of said currency should not be reidentifiable through time and change."

Digital art, by its very nature, is hard to own. Once it's on the network, anyone can copy and share it. But if you buy it as an NFT, then the ownership is yours and it is non-fungible. That term I first heard in investment banking when we were talking about the fungibility of something. It basically meant that one thing could be exchanged by another, in my simple understanding. Oil could be exchanged for gold which could be exchanged for US dollars. They are fungible assets.

In February, a 10-second video clip known as "Crossroads" by the digital artist Beeple sold at auction for $6.6 million. An animated image of a flying cat leaving a rainbow trail went for almost $600,000 that same month. A video of a LeBron James dunk sold for a mere $200,000. What do all these have in common? Each is an example of a non-fungible token, and the boom in digital art they have set off. So what is a non-fungible token?

Non-fungible tokens (or NFTs) are unique blockchain-based tokens that can represent almost anything, including physical assets. NFTs have been growing significantly in popularity in recent years because of this potential to "tokenize" anything and provide a way to transfer ownership of digital assets to holders. An NFT can be described as a certificate of authenticity. Most NFTs today are based on the Ethereum blockchain, but some other blockchains like TRON and NEO also support NFTs.

Non-fungible tokens (NFTs) are not a new phenomenon. The cryptosphere became aware several years ago when the 'CryptoKitties' phenomenon took over the Ethereum blockchain, causing huge delays in transaction times and skyrocketing transaction fees.

In case you were wondering but were too afraid to ask, the reason these digital "collectibles" are labelled "non-fungible" is to keep them distinct from the more common form of crypto tokens, like bitcoin or Ether, which were designed to be used as currencies (though they are used far more for speculation). Because these tokens were designed as currencies, they are meant to be fungible, meaning that their individual units are mutually interchangeable: the idea is that one bitcoin is always worth the same as any other bitcoin, in other words.

Non-fungible tokens (or NFTs) are unique blockchain-based tokens that can represent almost anything, including physical assets. NFTs have been growing significantly in popularity in recent years because of this potential to "tokenize" anything and provide a way to transfer ownership of digital assets to holders. An NFT can be described as a certificate of authenticity. Most NFTs today are based on the Ethereum blockchain, but some other blockchains like TRON and NEO also support NFTs.

"Non-fungible tokens (NFTs) have been widely adopted by the sports, arts, music, gaming, fashion, and other industries. Behind the hype is a fast-developing ecosystem of technical and commercial innovation that is embracing the promise of bridging physical world concepts of uniqueness and scarcity with the digital world. The NFT market has seen enormous growth in recent years, with sales of NFTs reaching $25 billion in 2021 by one estimate, and this is only expected to grow as creators and brands craft their plans for the metaverse in which NFTs are expected to play a critical role...."

""I'm skeptical about using CBDC as a spending control instrument, not just because I think it might undermine its attractiveness, and may even create unintended opposition," John Kiff, ​​a former senior financial sector expert at the International Monetary Fund, wrote in an email. He added that such restricted use of CBDCs would hamper fungibility, "and for me fungibility is a core CBDC characteristic.""

"Today, the foundational invention of non-fungible tokens (NFTs) made popular by CryptoKitties is being applied to a broad set of use cases from digital art and in-game items, to digital identity credentials and land titling. "

SWIFT: "We don't think that cross-border payments challenges should be solved for with closed loop systems. Doing so would easily solve for a subset - or multiple subsets - of participants, but value needs to move everywhere - from every account, to every account. Loops create barriers and friction; they reduce fungibility and portability, they limit competition and they fragment liquidity."

Non-fungible token (NFT) prices are apparently crashing. NFTs are essentially blockchain-based tradable digital certificates that prove ownership and provenance of online assets. And I say "apparently" because the market is so illiquid and opaque, so this is being dubbed a silent crash. So according to Bloomberg, citing Nonfungible.com as a source, is saying that NFT prices have tumbled almost 70% from a peak in February. Amy Castor has posted a great explainer on NFTs, what they are and how their markets work, but suffice it to say that the whole thing looks very fishy!

Creator coins are fungible, similar to ERC20 tokens on Ethereum. And each BitClout creator coin has its own supply. Elon Musk's creator coin is worth $84,000, for instance, and there are currently 434 of them in circulation.

After the "Mary" hard fork, the Cardano blockchain will become a "decentralized multi-asset (MA) smart contract platform", which means non-fungible tokens (NFTs), decentralized finance (Defi) and smart contracts will be supported. While Cardano is receiving mainstream media attention, such integration and upgrades are underway.

One of the biggest current trends in the world of digital and decentralized assets is the NFT, or non-fungible token.  In the past month, Grimes sold nearly $6 million of NFTs and Kings of Leon has pledged to come out with the first ever full rock album as an NFT.  So…what the heck is an NFT?

Thailand's Securities and Exchange Commission has announced new rules that restrict crypto exchanges from providing services related to meme tokens such as Dogecoin, fan tokens or tokens issued by influencers, non-fungible tokens and exchange tokens (proprietary coins issued by crypto exchanges that can be used to trade and pay fees). After publication in the Government Gazette, the Notification has become effective from 11 June 2021 onwards without retrospective effect. https://www.sec.or.th/EN/Pages/News_Detail.aspx?SECID=8994

Non-fungible token (NFT) is a term used to describe a unique digital asset whose ownership is tracked on a blockchain, such as Ethereum. Assets that can be represented as NFTs range from digital goods, such as items that exist within virtual worlds, to claims on physical assets such as clothing items or real estate. In the coming years, we will see NFTs used to unlock entirely new use cases that are only made possible by crypto.

Tron introduced its non-fungible token (NFT) standard, TRC-721, to take over the growing NFT market. DApps created on Tron's TRC-721 will be compatible with Ethereum's ERC-721 standard.