What are NFTs?

Okay. So you might have heard the term NFT, and you might wonder what exactly that means. So, let’s dive a little bit into that. NFT is an acronym that stands for non-fungible token. What exactly are non-fungible tokens, let’s break down each of those parts. So, first, what is fungible? fungible refers to, if something is perfectly interchangeable with something else, meaning if one thing is the same as another thing. What’s an example, the perfect example is money. If you have one US dollar bill, it’s the same as if you had another US dollar bill right?
well, technically, they’re kind of unique, one might be crumbled, one might be clean. One might be perfectly new.
But it doesn’t matter. If you go to the store. No one cares if you give them a US dollar bill versus another. They have the same value. And so that’s fungibility, where one thing is the same as another. Now, what’s non-fungible? (NON-FUNGIBILITY=NON-INTERCHANGEABLE). Well, It’s anything that’s not the same as another. It’s unique. Most things in the world are non-fungible.
For example, people are non-fungible. And dogs, for example, pets, they’re non-fungible. If you went on occasion and you dropped off your dog at a dog hotel and you come back and they give you another dog. You’d be upset. Because you want your dog, you don’t want someone else’s dog. Same thing. If you drop your kid at daycare and they gave you a different kid back, you’d be pretty upset. And so that’s what non-fungibility is about. and non-fungibility is how most things in the world are valued. If you think of a piece of art. If you buy the Mona Lisa for eight hundred fifty million dollars, and then they tried to give you a different piece of art. The same thing, you’d be pretty upset, so let’s go to the notion of a non-fungible token.