Mapping out the non-fungible token ecosystem

Quick Take

  • Non-fungible tokens are unique crypto tokens that are not interchangeable
  • The ERC-721 token standard for non-fungible tokens was introduced by AxiomZen developer Dietery Shirley

The concept of a non-fungible token (NFT) has been ingrained into the minds of developers, investors, and users in the Ethereum community ever since the world discovered the moderately popular CryptoKitties game.¹ Unlike traditional cryptocurrencies and tokens, which typically aim to be fungible, NFTs are specifically created to be unique and thus not interchangeable.