Something that is fungible can be replaced or exchanged for an identical item. 1 ETH for another, one ten-dollar bill is the same as another, a gold coin could be swapped for another gold coin of the same type… a New York hotdog. All fungible.Not to be confused with non-fungible, which means the item is unique and cannot be swapped for another. Your house is non-fungible, it has a unique design and/or location. People are non-fungible, you would notice if somebody swapped your kids for somebody else’s. And yes, you guessed it, NFTs are non-fungible. They are unique.
“I gotta make me some more of that fungible currency, so I can buy more of those non-fungible tokens.”
« Dictionary Menu