Definition ∞ Semi-fungible tokens are digital assets that possess fungibility for a period but can become non-fungible after a specific event or use. Initially, these tokens may be interchangeable, representing identical units within a collection, like tickets to an event before they are redeemed. Once used or associated with a unique attribute, they acquire individual characteristics and become distinct, losing their interchangeability. This hybrid nature allows for flexible management of digital items that transition from a generic state to a unique one.
Context ∞ Semi-fungible tokens represent an innovative class of digital assets with growing applications in gaming, ticketing, and digital collectibles, offering greater flexibility than strictly fungible or non-fungible tokens. Discussions often focus on the precise definition of their fungible and non-fungible states and the smart contract logic required to manage these transitions securely. Future developments are expected to expand their utility across various digital economies, providing new models for ownership and value transfer.
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