# 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="/files/j9QN4Ay194o8EAa7OnwG" 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="/files/uBBAIAUcYZU6SwqPO2wA" 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.


---

# Agent Instructions: Querying This Documentation

If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question.

Perform an HTTP GET request on the current page URL with the `ask` query parameter:

```
GET https://docs.npc.com/npc-is-the-first-meme-fungible-token/but-what-are-meme-fungible-tokens-mfts.md?ask=<question>
```

The question should be specific, self-contained, and written in natural language.
The response will contain a direct answer to the question and relevant excerpts and sources from the documentation.

Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.