Non-Fungible Tokens

By CoinGecko | Updated on Mar 03, 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.

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Related Terms

ERC-721

ERC-721 is one of the most widely used token standards in Ethereum to create non-fungible, exchangeable tokens.

Token

Blockchain based unit of value issued by an organization, which grants token holders a right to participate in a network.

Liquidity

How easily a cryptocurrency can be bought and sold without impacting the overall market price.

Staking

The state of locking-in significant amount of token to participate as a validator of a Proof-of-Stake network.

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