This article will give you insight into extremely fungible tokens, their features, and how they differ from non-fungible tokens.
What are extremely fungible tokens?
Extremely fungible tokens were conceived as an anti-NFT movement by ThereallysullyG, and it provides an elementary website to the users. NFT tokens are one-of-a-kind, non-interchangeable unique digital assets based on blockchain. In contrast, EFTs are identical, one of a kind and the tokens can be copied, shared, and used by different users and artists apart from their users. Many extremely fungible tokens are available in the market; let us look at them.
Some of the popular extremely fungible tokens are given below:
- The Otama collection
- Lil Sweater lads
- Nybbles and bytes
- Elven Girls
- Pompa Bears
- Pixel Slimes
- Toxic Shrooms
- Dapper penguins
- NFBees
- Gneat Gnomes
- Robot buddies
- Pocket planets
- Dafuq Barosh
- Pixelpeeps
What are the features of extremely fungible tokens?
NFTs serve as an authenticity certificate to show one-of-a-kind and non-interchangeable digital assets. Extremely fungible tokens, on the contrary, are a movement organized by the people who have concerns over the working of the NFTs. EFTs were created to support this anti-NFT movement. Now let us look into the features of EFTs.
- It is a movement and not an existing technology.
- It is not unique and easily replicable.
- They can be copied and shared.
- They can prevent fraud as artworks can be copied and replicated.
- They prevent environmental damage.
- NFTs are not widely understood, and the potential buyers are small as the NFT prices can be highly volatile.
- NFTs do not offer much income return to the original artists since they are highly volatile. Banking on such expectations cannot always be a success.
- NFTs can perpetrate fraud as many artists’ unique works are copied online without their consent which indirectly violates the basic idea of creating NFTs.
Concluding thoughts
Though the EFT movement can be fun, NFTs are more reliable, unique, irreplaceable, and non-interchangeable. EFTs are also a kind of investment, and we should look at them with speculation as they have higher risk factors. Since these tokens are newbies in digital assets, the long-term value is still unknown. Still, you can invest in extremely fungible assets with proper research, as the digital market is highly volatile. But at the end of the day, it should be your call with proper investment research.