What Is Fungible Token?
Fungible tokens are commonly used as a monetary value and are exchanged as currencies. In the exchange of fungible tokens, it does not hold any meaning, since they have the same value which are chiefly utilized to track balances and make payments.
Non Fungible Tokens
The crypto tokens which hold data in place of value and are unique are known as non fungible tokens. No two NFT’s can hold the same value. These tokens do not inherit any value as well as differ from cryptocurrencies.
Fungible Tokens and Non Fungible Tokens
Fungible: Easily Interchangeable used to buy and sell assets. They have no additional value.
Non Fungible: Also interchangeable with unique data value
Fungible: Depends on ERC-20
Non Fungible: Based on ERC-721 Standards
Fungible: Chiefly used to make payments and track assets
Non Fungible: Chiefly used to represent owners unique entity
Fungible: Value transfer depends on the number of tokens an owner’s possession.
Non Fungible: Value transfer is based on the unique value that a token possesses.
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