#Non fungible tokens examples for free#

Here, basketball fans can buy and sell video clips capturing specific moments in games. NBA Top Shots is a licensed blockchain app powered by the National Basketball Association. For example, in January 2021, one of the tokens was sold for 760,000 USD which is much more than one Bitcoin costs. Interestingly, CryptoPunks are among the most expensive NFT. Now, they can be purchased only from a CryptoPunk holder.

#Non fungible tokens examples for free#

The series is limited to 10,000 characters which were available for free for all the Ethereum wallet holders.

The proof-of-ownership is stored on the Ethereum blockchain. They all are unique characters, each token can be owned by one person only. CryptoPunksĬryptoPunks is an original NFT series. For now, this is one of the most popular non-fungible tokens in the world of crypto. The game allows you to breed, sell, buy, and exchange virtual cats.Įach cat is unique, with its unique features and value, and a crypto cat cannot be divided into smaller units. CryptoKittiesĬryptoKitties is a virtual game, something like Tamagotchi, but Kitties run on the Ethereum blockchain. To make things clearer, we have prepared some examples of non-fungible tokens.

To start with, these tokens are not coins but indeed, collectibles, unique items. The Most Popular Non-Fungible TokensĮven if the main idea behind non-fungible tokens is clear, you might be still confused about how these tokens can be applied in the world of cryptocurrency. Such a token cannot be eliminated, modified, duplicated. These features make a token non-fungible. The blockchain assigns to the file a unique ID and Proof of ownership. If we speak about non-fungible crypto-tokens, those can be anything, any file: an image, a video, a song, etc.) registered in the blockchain (now, Ethereum blockchain supports the functionality). Usually, we associate such tokens with collectibles, art pieces, and similar. They are authentic: every token doesn`t have its replica, it is unique.There are special marketplaces to do so, and the price of each token depends on how unique the token is. They can be transferred, not traded: you cannot swap, sell or buy non-fungible tokens on an exchange.Non-fungible tokens have specific features that distinguish them from fungible tokens: As you can guess from the title, such a token cannot be divided into smaller parts, neither it has an analog. While fungible tokens surround us constantly and we are more used to them, there is also a different category of tokens - non-fungible ones. What Are Non-Fungible Tokens: Definition, Examples, Explanation So, 1 Bitcoin can be divided into Satoshis, and each Satoshi can be interchanged for another Satoshi on any crypto exchange, such as LetsExchange without sacrificing the value of any of them. These parts are also interchangeable without sacrificing their value. For example, you can exchange 1 USD for another 1 USD, and you get the same value.Īnother characteristic of fungibility is the possibility to divide a token into smaller parts. We call fungible a token that can be exchanged on an exchange to another token without sacrificing the value of any of them. What Are Fungible Tokens: Definition, Examples, Explanationįungible tokens are more common to us. Replies to these questions are easier than you might believe.

What are they though and which of them bear more value? In the very end, what is better to buy and why? When we speak about cryptocurrency, we frequently mention such features as fungibility and non-fungibility, fungible and non-fungible tokens.