How is an NFT different from a cryptocurrency?

Created by Karel Striegel, Modified on Sun, 11 Sep 2022 at 09:51 AM by Karel Striegel

Cryptocurrencies can be fungible, meaning all the currency's units (i.e., tokens) are the same and equal, like grains of rice or dollars. Non-fungible tokens are the opposite — every cryptocurrency unit, or token, is unique and cannot be replicated. This "non-fungible" property can be used for many things, even certain types of currencies. 

But the current NFT craze is mostly fuelled by digital art and collectibles. People have figured out that a unique, digital object can be interesting, cool, and even have a significant monetary value. It's why the space has recently blossomed, encompassing thousands of projects involving artworks, gaming, and sports.

This Shopify app creates non-fungible tokens.

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