The Most Fungible and Non-Fungible Items in the World!!!

With NFTs, aka “Non-Fungible Tokens” reaching a fever pitch the past six months to a year, it got us thinking…what exactly is fungibility, why is it important, and what are the most (and least) fungible items in the entire world?

If you’re unfamiliar with what “fungibility” is, just understand that it means the quality an individual unit of a particular class of items, goods, or commodities has that makes it readily exchangeable with any other unit within the same class. It is the degree to which two units with the same name are indistinguishable from one another.

When talking about fungibility and non-fungibility, it’s useful to use examples to help understand the terms. For fungible items, a good example would be to consider the dollar bills you may still have in your wallet. In general, dollar bills are designed to be highly fungible, in that you don’t really care to exchange one dollar bill for another, as they are both worth the exact same and can be utilized in the exact same manner — to buy the same amount of a good or service. The condition of the dollar bill and even the age of the dollar bill typically do not matter, but even items designed for fungibility tend to, eventually, become sub-categorized into non-fungible tiers based on a myriad of factors — and vice versa (more on that later).

A salient example of a non-fungible item is a concert ticket. When we buy a ticket to an event, we’re typically assigned a particular seat in a venue that is specific…