FT = Fungible Token
FT = Fungible Token
👉 Fungible means that an item is able to be exchanged or substituted and will hold the same value.
Example: If someone lends you a 10$ bill, and you return to this person two 5$ banknotes, it's ok. Even though they are different, they hold the same total value. They are fungible.
👉 Token refers to a digital certificate stored on a secured distributed database called a blockchain.
👉 FTs (fungible tokens) are basically cryptocurrencies.
NFT = Non Fungible Token
NFT = Non Fungible Token
👉 Non-fungible means that an asset can't be substituted. It has unique attributes that make it different from something else in the same asset class.
Example: A painting, a house or a trademark.
👉 Token refers to a digital certificate stored on a secured distributed database called a blockchain.
👉 NFTs (non-fungible tokens) are publicly verifiable intellectual property digital assets authenticated on a blockchain.
On the blockchain, the owner(s) of an NFT can have complete control over how it is shared, used, and reproduced. The asset ownership is decentralized and completely transparent.
NFTs include digital art, collectibles, virtual reality items, crypto domain names, ownership records for physical assets, and more.