Designing Internet-Native Economies: A Guide to Crypto Tokens - Future

In web3, ownership and control is decentralized. Users and builders can own pieces of internet services by owning tokens, both non-fungible (NFTs) and fungible.Tokens give users property rights: the ability to own a piece of the internet.

Fungible TokensThese tokens are recognized for having the same value as well as a replication facility. The scenario of ETH (Ether) on Ethereum is a perfect example of the fungible token. ETH tokens’ value is the same, and they can replace each other since their value is the same.Non-Fungible TokensNon-fungible tokens (NFTs) do not share the same v... See more

Tokens can be fungible or non-fungible:  Fungible tokens are interchangeable (e.g., the US dollar, bitcoin).  Non-fungible tokens (NFTs) are unique (e.g., a piece of art).