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Fungibility
Assets and ownership

Fungibility

The property of being interchangeable with another unit of the same type. A dollar bill is fungible. BTC is fungible. NFTs are not fungible because each one is unique.

TradFi equivalent
In traditional finance...
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TradFi equivalent
Currency or standardized securities. One share of a company's common stock is interchangeable with any other share of the same class.
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Analogy
In everyday terms...
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Analogy
Large eggs in a carton. Any one large egg is interchangeable with any other large egg of the same grade. Compare that to a signed painting, where each one is unique.
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