Most of you guys might be hearing the term Non-Fungible for the first time and that's okay as Mr. Sage is going to explain what that means today...
What does Non-Fungible mean?
Non-fingible means that the item is unique and not interchangeable. Almost all currencies are fungible like the US dollar and when it comes to crypto most coins are also fungible, That is they're not unique.
Where are they used?
Non-Fungible tokens are there on the ethereum blockchain(ERC-721) and you have used these tokens when you've played cryptokitties.
Each kitty is a special token with it's own set of attributes and this increases the rarity. These tokens can help in many real life situations like for example: Movie Theatres can start issuing these tokens to replace the traditional ticket system
In short Nonn-Fungible tokens are unique and noninterchangeable tokens, They have their own set of unique attributes and these attributes increase their rarity.
Posted from my blog with SteemPress : http://warrior-sage.vornix.blog/2018/10/22/what-are-non-fungible-tokens/