What is the difference between fungible and non-fungible tokens? | Remooz
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What is the difference between fungible and non-fungible tokens?

A fungible token can be replaced, while a non-fungible token, or NFT, cannot. For example, if you trade one bitcoin for another, you still end up with one bitcoin of the same value. But a one-of-a-kind NFT representing digital art or physical real estate can’t be exchanged for the same thing. Bitcoin and NFTs both exist on blockchains or digital databases that record and verify transactions. A major difference between a bitcoin and an NFT is the information that they store on the blockchain.

Fungible cryptocurrencies such as bitcoin store value. Non-fungible tokens store data like a deed of ownership to a work of art. In the physical world, a particular house is a one-of-a-kind. A deed to its ownership can’t be duplicated. The same can be said for the coding and information stored within an NFT on the blockchain.

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