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ERC721 Token Standard & The Fungibility of Assets - A Developer’s Perspective. A Developer's Perspective by Zaryab Afser. A token can be seen as a representative of value within a particular platform that has the capability to be traded for services, currency, time, or even shares in a company, etc. Fungible assets are divisible into smaller units and it doesn’t really matter since the value of all the smaller units together still remains the same.