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

Examples of non-fungible token in a Sentence

Recent Examples on the Web The show concludes with an examination of contemporary digital currency, such as cryptocurrency and non-fungible tokens (NFTs)—including a new NFT that the Ashmolean has commissioned just for the exhibition. —

Julia Binswanger, Smithsonian Magazine, 5 Sep. 2024 Many artists have opened new revenue streams by selling non-fungible tokens (NFTs)—unique digital assets that represent ownership of digital artwork, a music track, a video clip, etc.—directly to fans. —

Julian Durand, Forbes, 4 Sep. 2024 Trump also made $7.15 million from his line of non-fungible tokens, or NFTs, a unique digital asset that can take the form of art, videos, and other types of digital content stored on a blockchain network and traded using cryptocurrency as a means of exchange. —

William Gavin, Quartz, 16 Aug. 2024 While non-fungible tokens may not nab as many headlines as when Dolce & Gabbana’s multimillion-dollar Collezione Genesi took the industry’s breath away three years ago, fashion hasn’t declared it over yet. —

Adriana Lee, WWD, 30 July 2024 See all Example Sentences for non-fungible token

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

See more words from the same year

Cite this Entry

Style

“Non-fungible token.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/non-fungible%20token. Accessed 11 Sep. 2024.

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