“Fungible” means interchangeable. For example, a General Admission ticket to a concert is exactly the same as (and includes the same benefits as) another General Admission ticket. “Non-fungible” means something is NOT interchangeable—such as a concert ticket with assigned seating that has a unique seat number and location. Non-fungible tokens (NFTs) are NOT interchangeable as some tokens are more rare (and valuable) than others.
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