Based on a Medium Piece first published** here. **

NFT (Non-Fungible Token) was a bad name choice. NFTs are similar to pieces of art in being “one-offs”. As such they are not defined by their non-fungibility. They are defined by the fact that they are unique, like art. By “art”, I mean a painting, but also an artisan table crafted by a master carpenter, or a Stradivarius violin. It is true that uniqueness implies being non-fungible. However, the question is which attribute matters.