Blockchain News
NFTs vs. SFTs
Non-Fungible Tokens (NFTs) have been the most significant trend in crypto since the dawn of DeFi. But the space keeps moving forward, and the evolution of NFTs is upon us.
When an asset or token is fungible, that means it is indistinguishable by any other token in the series. For example, bitcoins, dollars, and gold are fungible assets. However, Cryptopunks, paintings, and your home are non-fungible assets.
Semi-Fungible Tokens (SFTs) lie somewhere in the middle, meaning they have both fungible and non-fungible traits. An example of this would be a token that is redeemable for an asset during certain period of time.
“SFTs are the new counterpart to NFTs that are about to take off in GameFi. SFTs enable Web3 games to create assets that fit the “stackable” use case made popular in traditional RPG games,” explained the Genopets team to Web3Wire News. “Ultimately, SFTs unlock two major benefits to players and game publishers: a better user experience and...
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