NFT stands for “non-fungible token,” although unless you’ve studied economics, that probably isn’t much help. 123rf Non-fungible tokens are a type of cryptocurrency being touted as the digital answer to collectibles. While “non-” and “token” are pretty straightforward, “fungible” is proving a bit of head-scratcher for many. In simple terms, if something is fungible it is mutually interchangeable. A $20 note, for example, is fungible – you can swap it for two $10 notes or four fives and you still have $20. Cash is fungible. A non-fungible item is unique and irreplaceable, like a signed album or an original artwork – sell or trade it and it’s gone.