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Web3 Fundamentals and NEAR

FT-NFT

FT - NFT

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NFT stands for “non-fungible token.”

Since NFTs have unique properties, they can not interchangeable for other items

FT stands for “fungible token”

Since FTs value defines them rather than their unique properties, they can interchangeable for other items

"Token: Something that can be exchanged for, or represent, a good, service, or other form of value or utility

Fungible vs. Non-Fungible:

Fungible = Interchangeable, Divisible ex: $10 bill, $NEAR, $BTC

Non-Fungible = Non-Interchangeable, Non-Divisible, Unique Properties ex: baseball cards, houses, land, diamonds, laptop"

"NFTs are tokens that we can use to represent ownership of unique items. They let us tokenize things like art, collectibles, even real estate. They can only have one official owner at a time and they're secured by the... blockchain – no one can modify the record of ownership or copy/paste a new NFT into existence." - ethereum.org

For further information: FT - NFT

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