Cryptocurrency Q&A
What is the difference between a token and an NFT?
What is the difference between a token and an NFT?
CryptoLordess
Thu Nov 07 2024
|
5 answers
1052
I want to understand the difference between a token and an NFT. I've heard about them in the context of cryptocurrency, but I'm not sure how they differ from each other. Can someone explain?
5 answers
DigitalLord
Sat Nov 09 2024
Non-fungible tokens (NFTs) stand apart from fungible tokens, which are interchangeable and share a uniform value.
Was this helpful?
61
93
CryptoQueen
Sat Nov 09 2024
Unlike Bitcoin or Ethereum, where each unit is essentially the same and can be traded for another unit of the same cryptocurrency, each NFT is unique.
Was this helpful?
286
26
CryptoPioneerGuard
Sat Nov 09 2024
This uniqueness means that NFTs cannot be exchanged on a one-to-one basis with another NFT, as they each possess distinct characteristics and value.
Was this helpful?
389
75
Alessandra
Fri Nov 08 2024
The indivisibility of NFTs is another defining feature. This implies that you cannot split an NFT into fractions and send only a portion of it.
Was this helpful?
171
77
Caterina
Fri Nov 08 2024
Instead, you must transfer the entire token in its entirety. This aspect adds to the exclusivity and value of each NFT.
Was this helpful?
145
75
