What it means
Non-fungible token: a one of a kind token, used for things like digital art, tickets or memberships.
Each NFT is unique, unlike a stablecoin where every token is the same as the next.
How it works
Defied doesn't hold or show NFTs.
Related terms
| Term | What it means |
|---|---|
| Token | A unit of value recorded on a blockchain, which can stand for money, a vote, a share of a pool or anything else. |
| ERC-20 | The standard format for tokens on Ethereum and networks like Base, so any wallet can hold and send them. |
| Blockchain | A shared record of who owns what, kept by many computers at once, that no single company can change on its own. |
This glossary explains terms in general. It isn't investment, tax or legal advice.