What is the difference between fungible tokens, non-fungible tokens, and SFTs?
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Fungible tokens are like dollars, interchangeable; I can trade 1 ETH for another. NFTs are unique collectibles. SFTs are semi-fungible, like batch items.
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From my experience, fungible tokens are like dollars: identical, interchangeable, divisible, and you don’t care which exact unit you hold. ETH and USDC are classic FTs used for payments and DeFi pools.
Non-fungible tokens are the opposite: each token is unique with its own data, art, collectibles, access passes. One NFT isn’t interchangeable with another; provenance and metadata matter.
Semi-fungible tokens sit in between. They’re fungible within a defined class but not across classes. Think concert tickets minted per seating zone: every Zone A ticket is interchangeable with any other Zone A ticket, but Zone A isn’t interchangeable with Zone B. Similarly, game items minted in batches: copies in the same batch are interchangeable, but copies from different batches are distinct.
On a project I worked on, we used SFTs to model seating and rewards; users could trade within a zone while scarcity across zones stayed intact.
Non-fungible tokens are the opposite: each token is unique with its own data, art, collectibles, access passes. One NFT isn’t interchangeable with another; provenance and metadata matter.
Semi-fungible tokens sit in between. They’re fungible within a defined class but not across classes. Think concert tickets minted per seating zone: every Zone A ticket is interchangeable with any other Zone A ticket, but Zone A isn’t interchangeable with Zone B. Similarly, game items minted in batches: copies in the same batch are interchangeable, but copies from different batches are distinct.
On a project I worked on, we used SFTs to model seating and rewards; users could trade within a zone while scarcity across zones stayed intact.
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