Non-Fungible Tokens (NFT)
By CoinGecko | Updated on May 28, 2020
They are collectible elements within the Ethereum blockchain under ERC-721, where each token refers to a single element with a certain value. They represent something unique and therefore does not have the mutual interchangeable value. In other words, no non-fungible token is the same. The most popular is CryptoKitties, but there are many others.
Related Terms
Mining Pool
Combination of resources of several miners to obtain a higher mining power and thus achieve greater rewards for the opening of blocks.
Metaverse
The Metaverse is a virtual space where users are able to interact with each other in a computer generated environment.
Futures
An agreement between two counterparties that obligates them to transact in the future based on the contract terms set.
Crowdsale
This type of auction has a fixed price per token that is sold on a first-come-first-serve basis.
Hungry for more knowledge?
Back to Glossary or Subscribe to our newsletter.