non-fungible token

noun

non-fun·​gi·​ble token ˌnän-ˈfən-jə-bəl- 

variants or less commonly nonfungible token

plural non-fungible tokens also nonfungible tokens

: a unique digital identifier that cannot be copied, substituted, or subdivided, that is recorded in a blockchain, and that is used to certify authenticity and ownership (as of a specific digital asset and specific rights relating to it)

Non-fungible tokens … are electronic identifiers confirming a digital collectible is real by recording the details on a … database known as a blockchain.

—Helen Sullivan

Non-fungible tokens are used to verify unique items such as digital art and digital ownership of other items.

—Eileen Brown

Nonfungible tokens each have their own unique value, so they're not tradable on a like-to-like value basis.

—Dave Vellante

also : the asset that is represented by a non-fungible token

A non-fungible token is, most simply, a unique digital asset. It can be a photo, a logo, a meme, a music album, a basketball highlight, a collage, a tweet, a newspaper article, a video; basically, anything that can get online …

—Brian Gordon

… Smith will auction off the horror anthology as a non-fungible token, with the owner gaining the rights to exhibit, distribute and stream the movie.

—Jeremy Thomas

—abbreviation NFT

Did you know?

The NFT of NFT

The NFT of the definition of NFT is owned by AOI.

Examples of non-fungible token in a Sentence

Recent Examples on the Web

In April, Trump launched his latest non-fungible token collection on the Solana blockchain and has been making increasingly bullish comments on crypto since then. —Mackenzie Sigalos, CNBC, 19 July 2024

Fashion’s Relationship With Crypto - Quiet Luxury To ‘Quiet Technology' In 2021, the fashion industry welcomed non-fungible tokens (NFTs – canonical product of the blockchain industry) as a flashy luxury good – a digital complement to round out physical catalogs. —Jackie Berardo, Forbes, 1 Mar. 2024

The band also released the album in the form of a non-fungible token (NFT), becoming the first band to ever do so. —Emily Zemler, Rolling Stone, 27 Feb. 2024

The expense under discussion wasn’t a private jet, a non-fungible token or some new cryptocurrency, but glam — a catch-all term that encompasses the services of hairstylists, makeup artists and nail technicians. —Christine Werthman, Billboard, 1 Mar. 2024

Word History

First Known Use

2017, in the meaning defined above