How do fungible tokens differ from non-fungible tokens in the digital currency space?

3 answers

• May 10, 2022 · 3 years ago
  Fungible tokens are interchangeable and identical to each other, meaning that each token holds the same value as any other token of the same type. They are commonly used for currencies or commodities. Non-fungible tokens, on the other hand, are unique and cannot be exchanged on a one-to-one basis. Each non-fungible token has its own distinct value and properties, making them suitable for representing ownership of assets such as digital art or collectibles.
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• May 10, 2022 · 3 years ago
  Fungible tokens are like the dollar bills in your wallet - you can exchange one dollar bill for another and it will still hold the same value. Non-fungible tokens, however, are more like rare collector's items. Each one is unique and has its own value, just like a rare baseball card or a limited edition action figure.
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• May 10, 2022 · 3 years ago
  Fungible tokens are widely used in the digital currency space for everyday transactions. They can be easily exchanged and used as a medium of exchange. Non-fungible tokens, on the other hand, have gained popularity in the world of digital art and collectibles. They allow artists and creators to tokenize their work and sell it directly to collectors, creating a new market for digital assets.
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