What are NFTs?
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An NFT (non-fungible token) is a blockchain token that carries a unique identifier, making it distinguishable from every other token — even those minted by the same contract. This uniqueness is what "non-fungible" means: unlike CTN or USDC, where every unit is interchangeable, each NFT is a distinct asset.
Fungible vs. non-fungible
| Property | Fungible token (e.g., USDC) | Non-fungible token (NFT) |
|---|---|---|
| Interchangeable | Yes — 1 USDC = 1 USDC | No — each token is unique |
| Divisible | Typically yes | Typically no (one whole unit) |
| Standard | ERC-20 | ERC-721, ERC-1155 |
| Use case | Currency, governance, utility | Ownership, identity, provenance |
What NFTs enable
An NFT records ownership on the blockchain, creating a tamper-proof provenance chain. Anyone can verify who currently holds a given NFT, who held it before, and at what price it last transferred — all without relying on a central registry.
Common use cases include:
- Digital art and collectibles — verifiable scarcity and attribution.
- In-game items — portable, tradeable assets across games and marketplaces.
- Event tickets — fraud-resistant admission credentials.
- Domain names — decentralized namespace ownership.
- Real-world asset representation — tokenized deeds, certificates, or memberships.
NFTs in the CenturionDEX Protocol
CenturionDEX v3 uses NFTs to represent concentrated-liquidity positions. Each position has a unique price range, fee tier, and token composition — properties that make a position inherently non-fungible. The position NFT serves as proof of ownership and allows the holder to collect fees and withdraw liquidity.
Pricing
An NFT's value is determined entirely by what buyers are willing to pay. The floor price of a collection reflects the lowest current listing, but individual items can trade far above or below that baseline depending on rarity, provenance, and demand.