The term that describes unique, non-replaceable tokens created using blockchain technology is "Non-Fungible Token" or NFT. NFTs are unique cryptographic tokens on a blockchain that cannot be replicated or exchanged on a one-to-one basis, distinguishing them from fungible cryptocurrencies like Bitcoin. They represent ownership of specific digital or real-world assets and are tracked on the blockchain with distinct identifiers, making each token irreplaceable and unique.

Explanation of Non-Fungible Tokens (NFTs)

• NFTs are digital assets that have unique characteristics and cannot be exchanged as equals, unlike cryptocurrencies, which are fungible.

• They are created through a process called minting, which involves encrypting the asset’s information and recording it on the blockchain, often using smart contracts to manage ownership and transfers.

• NFTs can represent a variety of assets such as digital art, collectibles, real estate, or even identity certificates.

Contrast with Fungible Tokens

• Fungible tokens (cryptocurrencies) are interchangeable and identical in value.
• Non-fungible tokens hold unique information that makes each token different from others.

Origin and Standards

• The term NFT became well known with the adoption of the ERC-721 standard on Ethereum, which defines a framework for creating unique tokens with distinct ownership details.

• NFTs started gaining mainstream attention with applications like CryptoKitties, which showcased their unique, non-interchangeable nature.

In summary, the unique, non-replaceable tokens created using blockchain technology are called Non-Fungible Tokens (NFTs).