This article will help you gain more insight into extremely fungible tokens and how they differ from non-fungible tokens.

What are extremely fungible tokens?

We all know that blockchain is the ideal technology for managing digital assets. NFTs serve as an authenticity certificate to show one-of-a-kind and non-interchangeable digital assets. Extremely fungible tokens (EFTs), 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. In contrast to  NFTs, extremely fungible tokens can be identical and are not unique. They can be copied and shared by different people and artists apart from their owners.

Why is there a need for extremely fungible tokens?

A group of people introduced EFTs to voice their distrust against NFT technology. Their primary concerns over non-fungible tokens, which forced them to introduce EFTs, are as follows.

• 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.
• NFTs can perpetrate fraud as many artists’ unique works are copied online without their consent which indirectly violates the basic idea of creating NFTs.

Read More: What are Non-fungible tokens or NFTs?

Popular extremely fungible tokens

Some of the recently introduced EFTs are listed 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

Concluding thoughts

Though the EFT movement can be fun, NFTs are more reliable as they are 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. If you plan to launch an NFT marketplace, we have the best whitelabel NFT marketplace solution that can help you kickstart it in just a matter of days. Reach out to us today for a free demo of the platform.