What are fungible tokens in crypto?

In crypto, fungible tokens are units of value that are part of a set – each one is interchangeable with any other item from that set, and all have the exact same value. DeFi tokens are one good example. — There are multiple different types of fungible token in the crypto space, with different functions, uses and underlying value.

What does it mean when something is fungible?

When something is fungible, you can completely replace it with something else for the original value. This interchangeability is an essential part of the definition of fungibility. It is also part of how current commerce can function.

Why is bitcoin considered a fungible item?

Bitcoin is considered a fungible item because it has a measurable value across currencies, and can be bought and sold for equal value. Moreover, fungible assets can be broken up and sold in fractions, making it easier to exchange for other like-items.

Are CryptoKitties fungible?

Crypto Kitties is the most popular example of non-fungible, collectible tokens. Every CryptoKitty is unique, and no two CryptoKitties are the same; these are impracticable to break a CryptoKitty into smaller pieces, trade them, and reassemble them to create an equally valuable CryptoKitty, unlike fungible assets like Bitcoin. Fungible Vs.