In simple terms, fungibility refers to something replaceable or exchangeable. An asset or a good (ex- Gold or Silver) is a fungible asset if you can replace or exchange one part of it with another indistinguishable part.
You can also consider fungible goods as common items that are not very rare, unique, or collectible.
It is exactly the opposite of fungible i.e. something unique and irreplaceable. An autographed book or a rare old coin is non-fungible as they both can’t be easily replaced. Consider non-fungible goods as rare and unique items.
Like any other non-fungible asset a non-fungible token or NFTs are basically something unique and irreplaceable.
NFT platforms like Foundation and OpenSea, allow you to buy and sell ownership of unique digital items. NFTs are basically blockchain tokens representing a unique digital item. NFTs can represent almost anything like art, graphics, music, videos, images, etc.
NFT Investment and Collection
When you bid on an NFT (even if you don’t end up buying it) you are captured in a digital ledger. Unlike traditional auctions, where bidders are forgotten, the blockchain records your role and establishes your presence.
INVEST IN NFTs
Please take a look at some of the crypto-art offered in the Vectorvault NFT Collection.