Economics · Crypto Assets and NFTs
What is the primary difference between a Non-Fungible Token (NFT) and a fungible token like Bitcoin?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Fungible tokens operate on decentralized networks, whereas NFTs rely on centralized databases.
- 2NFTs can only be divided into smaller sub-units, unlike fungible tokens.
- 3Every NFT possesses unique attributes and cannot be exchanged on a 1:1 basis with another NFT.✓
- 4Fungible tokens are legally recognized as legal tender, whereas NFTs are completely banned.
Correct answer
Every NFT possesses unique attributes and cannot be exchanged on a 1:1 basis with another NFT.
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