Word of the Day | Non-Fungible

Word of the Day | Non-Fungible

Fungible refers to something that is interchangeable or replaceable with something else of the same kind.

Non-fungible refers to something that is unique or one-of-a-kind, and cannot be easily substituted or exchanged for something else.

In other words, if you have two items that are fungible, it means they are identical and can be easily exchanged. Think of fungible items like money or food items such as rice or oil. For example, if you lend someone $10 and they give you back $10 in return, it doesn't matter if it's the exact same bill you lent them or a different one, as long as it has the same value.

Non-fungible items are unique and have distinct qualities that make them different from each other. For instance, a painting by a famous artist, a specific edition of a book, or a limited edition collectible are all examples of non-fungible items. Each one has its own value and cannot be simply replaced by another similar item.

https://www.dbm.academy/faq for more blockchain vocabulary