non-fungible token

noun

non-fun·​gi·​ble token ˌnän-ˈfən-jə-bəl- How to pronounce non-fungible token (audio)
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

These examples are programmatically compiled from various online sources to illustrate current usage of the word 'non-fungible token.' Any opinions expressed in the examples do not represent those of Merriam-Webster or its editors. Send us feedback about these examples.

Word History

First Known Use

2017, in the meaning defined above

Time Traveler
The first known use of non-fungible token was in 2017

Dictionary Entries Near non-fungible token

Cite this Entry

“Non-fungible token.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/non-fungible%20token. Accessed 14 Apr. 2024.

Last Updated: - Updated example sentences
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