Non-Fungible Token (NFT)

A Non-Fungible Token is a digital item that’s one-of-a-kind and provably owned, like art, music, game items, you name it. Unlike Bitcoin or ETH, each NFT is unique and non-interchangeable.

Related Terms

OpenSea

The biggest NFT marketplace out there (for now). You can mint, buy, or sell NFTs across chains like Ethereum and Polygon. Think eBay, but for JPEGs.

Minting

Creating new tokens or NFTs and adding them to the blockchain. Could be a fresh supply or a one-of-one masterpiece.

Fungible Token

A token where each unit is identical, like USDC or BTC. Unlike NFTs, Fungible Tokens are interchangeable and don’t have unique properties.

Fungibility

If one unit of something is exactly the same as another, it's fungible. Dollars? Fungible. Bitcoin? Fungible. NFTs? Nope, not fungible.