Since CryptoKitties first achieved widespread notoriety with non-fungible token technology in 2017, the industry for NFTs has grown significantly. Most NFTs are built using the ERC-721 token standard, an Ethereum-compatible identifier that was created by the developers of CryptoKitties. One bitcoin is always the same as any other bitcoin in circulation, and as such, units of bitcoin can be interchanged. In this way, NFTs are different from fungible assets like bitcoin or fiat currencies like the U.S.
Each NFT’s uniqueness can be proven by its unique label created by making use of specialized cryptographic code, and no token can be interchanged for another. Non-fungible tokens (NFTs) are unique, indivisible digital assets created on blockchains.
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