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Understanding the Distinction between Fungible and Non-Fungible Tokens

Best for: Blockchain Developer, Cryptocurrency Trader, NFT Creator, Digital Asset Manager, Smart Contract Engineer.

This prompt aims to clarify the distinction between fungible and non-fungible tokens (NFTs). Fungible tokens, like cryptocurrencies, can be exchanged or traded for one another without losing their value. NFTs, on the other hand, are unique digital assets with specific attributes that cannot be replicated or exchanged for identical ones. Understanding this difference is crucial for comprehending how these tokens function in the digital economy.

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