PIONAUTS

NFT stands for “non-fungible token”. In economics, a fungible asset is something with units that can be readily interchanged – like money. With money, you can swap a $10 note for two $5 notes and it has the same value. However, when something is non-fungible, this is not possible. The unique properties of an NFT cannot be interchanged with something else. These digital tokens or NFT’s represent a unique, irreplaceable asset that lives on the blockchain.