Fungible

Fungibility is a good or asset’s interchangeability with other individual goods or assets of the same type. The examples of fungible assets are coins or bank notes.

Fungible Token

Fungible tokens issued on a blockchain can be exchanged for another token that is of the same type. These tokens are, for example, ERC-20 tokens or Ethers.

Non-Fungible Token

Tokens that are, by definition, non fungible. Meaning that they represent a unique digital item, and are non-interchangeable. But like any other unique item, they can be priced in any other (fungible) currency. The examples of non-fungible token are artwork or real-estate.

Ethereum

Ethereum is an open-source, decentralised blockchain, which can be used to create automated contracts or circulate a digital currency called Ether.