Non-Fungible Token (NFT)

A non-fungible token (NFT) refers to an asset that has specific details and certain values related only to itself. Each NFT is unique, and no two NFTs are alike. Additionally, NFTs are not interchangeable with one another, unlike fungible tokens (i.e., one ETH can be exchanged with another ETH).

NFTs encompass various industries, from in-game assets and digital art to music and collectibles. They also have use in tokenising real-world assets (RWAs), including real estate. Some of the more well-known NFT projects are Bored Ape Yacht Club and Loaded Lions.

Key Takeaway

A non-fungible token (NFT) is a unique, irreplaceable asset that lives on a blockchain.

Related Words

Market Cap

Market cap refers to the total dollar value of a cryptocurrency in circulation. It is calculated by multiplying the token price by the total number of tokens.

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Circulating Supply

Circulating supply is the amount of a cryptocurrency currently on the market. The number can grow or shrink for various reasons.

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TradFi

Traditional finance, or TradFi, is a conventional approach to financial activities that relies on established institutions, such as banks, insurance companies, investment companies, and stock exchanges.

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Collection Value

Collection Value is the aggregated monetary value of all the NFTs in a collection.

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NFT Sales Volume Index (7D)

The NFT Sales Volume Index (7D) shows the price and number of editions of a non-fungible token (NFT) collection sold over a 7-day (7D) period.

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Crypto Asset

Crypto assets are transferable digital representations of value made possible by cryptography and blockchain technology.

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24H Volume

24H Volume shows the number of a cryptocurrency’s tokens traded over a 24-hour time frame.

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7D

7D, short for seven days, refers to price data that has been collected for a cryptocurrency over a 7-day period.

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Floor Price

Floor Price is equal to the lowest-priced NFT in a collection.

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Gas (ETH)

Gas is the cost of a transaction on the Ethereum network.

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