non-fungibleadj.
/ˌnɒnˈfʌn(d)ʒᵻbl/, U.S. /ˌnɑnˈfəndʒəb(ə)l/ Chiefly Law and Finance.
Of a product or commodity that has been contracted for: that cannot be replaced by another identical item without breaking the terms of the contract. More generally: not interchangeable or replaceable.
ΘΚΠ
society > law > legal obligation > [adjective] > type of subject of obligation
fungible1649
representablea1859
non-fungible1880
1880 T. E. Holland Elem. Jurispr. xi. 135 Horses, slaves, and so forth, are ‘non-fungible’ things, because they differ individually in value and cannot be exchanged indifferently one for another.
1919 Amer. Econ. Rev. 9 41 Land is different from capital; it is a non-fungible element which is not fused in the plant and equipment account as is capital, but remains separate and liable for specific delivery.
1988 R. E. Goodin Reasons for Welfare i. 9 At the level of personal social service administration, the characteristically approach is to opt for in-kind transfers or nonfungible vouchers for specific goods or services rather than for cash transfers.
2015 Jrnl. Appl. Philos. 32 172 Only rarely is a philosopher truly nonfungible as a conference speaker or author.
Compounds
non-fungible token n. a unit of data that certifies a digital asset (e.g. a piece of digital art) as unique and provides proof of ownership, which is stored using blockchain technology and traded online using cryptocurrency; abbreviated NFT n.
ΚΠ
2017 @PEntremont 26 Aug. in twitter.com (accessed 11 June 2021) Request for Protocol: a framework to tokenize assets and create non fungible tokens. Highly needed from legal and conceptual standpoints.
2021 Wall St. Jrnl. 13 Mar. b12/4 Christie's said that a cryptocurrency investor based in Singapore..won Beeple's $69 million digital collage at auction—a sale that smashed records in markets for both art and nonfungible tokens.
This is a new entry (OED Third Edition, December 2021).
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adj.1880