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glossary

Definitions and terminology related to cryptoeconomics, blockchain and distributed ledger technology.
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Non-Fungible Tokens (NFTs)

Non-Fungible Tokens, or NFTs, are distinguished by their lack of fungibility, a lack which makes NFTs well-suited for a distinct set of uses cases typically concerning ownership. Fungible goods and assets are those that can be interchanged with other individual goods of the same type. Non-fungible goods cannot; they are non-interchangeable, unique, and non-divisible. ERC-721 was the first standard enabling non-fungible cryptocurrencies; CryptoKitties are an example of NFTs, as each has unique characteristics.