Now before we go into some more cool information letβs break down βnon-fungible token.β A non-fungible asset is a unique asset that cannot be copied, replaced, or substituted. A bitcoin for example is fungible, you can trade one bitcoin for another, they are the same thing. Each individual NFT is distinct. A 1 of 1 art piece is non-fungible, there may be other works of art by the same artist, but they are completely different.