Fungible? Non-Fungible? What does it all mean?
“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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What does "Minting" mean?
“Minting an NFT” is just another way of saying “storing on the blockchain”. If an NFT is a blockchain-based token that proves ownership of digital items such as an image, music or video files, “minting an NFT” refers to converting those digital files ...
What does owning an NFT mean?
Owning an NFT is digital proof of ownership to a media file, such as a photograph, a video, or a music file that is recorded and stored on the blockchain. Some OneOf NFTs include OneOf-exclusive Vault Content which could be special IRL (in real life) ...
What is an NFT?
NFT stands for "non-fungible token." They are built on blockchain technology similar to "fungible" tokens such as Bitcoin or Ethereum; however, each NFT is unique and can be a one-of-a-kind "edition" or part of a limited Drop Each NFT is based on a ...
What is Polygon?
Polygon is a “proof-of-stake” protocol and one of the largest projects within the crypto industry, originally designed to make transactions on the Ethereum blockchain more energy efficient, faster and more affordable than on the mainnet. It is a ...