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![]() In contrast, each NFT is unique and cannot be exchanged with another identical token. The word "fungible" is used in economics to describe a good or asset that can be interchanged with other identical goods or assets for example, a kilogram of crude oil is interchangeable with any other kilogram of crude oil, and one kilogram of gold can be exchanged for another kilogram of gold. ![]() A non-fungible token or NFT is a specific kind of cryptographic token or digital asset - in essence, any digital asset can become an NFT.
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