Non-fungible Token (NFT)
A non-fungible token is a unique on-chain token representing a distinct asset, right, identity, or collectible.
- Acronym
- NFT
A Non-fungible Token (NFT) is a token standard for representing unique items—each token has distinct identity or metadata. Unlike fungible tokens where any unit is interchangeable, NFTs are not mutually interchangeable.
NFT metadata typically includes links to content, traits, or attributes. While many ecosystems reference off-chain storage, decentralized storage like IPFS is preferred to minimize reliance on centralized hosts.
Use cases include collectibles, gaming assets, event tickets, identity, and tokenized real-world assets. On low-fee chains like Bitcoin Cash, NFTs can be transferred cheaply and quickly.
Related terms
3 linkedExplore connected entries beyond the alphabetical index.
Token
→A digital asset issued on an existing blockchain, often representing value, rights, access, or unique ownership.
Fungible Token
→A fungible token has interchangeable units, so each unit of the same token is equivalent for payment, accounting, or trading.
IPFS
→A peer-to-peer file network that retrieves content by cryptographic identifier rather than by a server location.
All terms and definitions may update as the Cryptionary improves.
