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

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

Third, some companies are already generating revenues there: Nike, for instance, reported $186 million of non-fungible token sales in 2022. —François Candelon, Fortune, 5 May 2023

The game was supposed to allow players to purchase base egg non-fungible tokens (NFTs), or unique digital assets. —Daysia Tolentino, NBC News, 5 Jan. 2024

Policies, legal contracts, and financial transactions that were traditionally the domain of governments, courts, and banks can be replaced with smart contracts, non-fungible tokens (NFTs), and cryptocurrencies. —Julia Ebner, WIRED, 24 Jan. 2024

The bad actors posted a fake offer for free non-fungible tokens (NFTs) with a link to a fake website designed to empty cryptocurrency wallets. —Ashley Belanger, Ars Technica, 5 Jan. 2024

The industry continues to evolve, with digital media expanding to include non-fungible tokens (NFTs). —Kim Pham, Rolling Stone, 18 Oct. 2023

Word History

First Known Use

2017, in the meaning defined above