# But What Are Meme Fungible Tokens (MFTs)?

It's high time we have a new class of NFTs that are tradable like memecoins. We're calling them **meme fungible tokens** (MFTs) and Non-Playable Coin (NPC) is the first.

### Defining the Term

> **A Meme Fungible Token** (MFT) is a type of token that holds the metadata of a JPEG, and can be transformed into a tradable token on Uniswap and other decentralized exchanges. 

MFTs are essentially high-supply, liquid JPEGs that are versatile in all markets.  It's basically a JPEG that trades like a meme coin. 

<figure><img src="https://3129043283-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2Fi6UwPHrYGR1zs18jc91t%2Fuploads%2FPF7Mn0AXGoXFBiuhGzmp%2Fdownload%20(6).jpeg?alt=media&#x26;token=84b20777-3487-4155-bbad-f0e1a965a090" alt="" width="401"><figcaption></figcaption></figure>

### Converting between Two Markets

A core feature of MFTs is you can trade them anywhere.

MFTs can convert between being a JPEG (ERC1155)—tradable on NFT marketplaces—and a meme coin (ERC20), tradable on Uniswap.&#x20;

These two tokens are identical in value. You can convert using a wrapper.&#x20;

### Non-Playable Coin (NPC) is the first meme fungible token (MFT)&#x20;

<figure><img src="https://3129043283-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2Fi6UwPHrYGR1zs18jc91t%2Fuploads%2FFbpRmOGmN6fIAfQjaFqY%2FThe%20Expert%20Full.png?alt=media&#x26;token=f64bca4f-bdb2-485f-b24d-0439892cd39b" alt=""><figcaption></figcaption></figure>

Just [use the dApp on our home page](https://www.nonplayablecoin.io/transform) to see how an MFT works in practice.