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A Beginner’s Guide to Tezos TZIP-7 Proposal explains how fungible tokens work on the Tezos blockchain. We will build a simple smart contract to demonstrate the necessary functions of any fungible token. Fungible tokens are tokens that are mutually interchangeable with other tokens of the same type. They were one of the basic necessary elements for the explosion of ICOs. They are set to revolutionize the Tezo blockchain and allow people to create their own tokens.