Wow those are some fancy looking words! I promise theyre easy, they just look intimidating!
ERC-20 - tokens are Fungible, meaning that they are able to be replaced by one another. Compared to each other, they are not uniques. Say a penny for example. Pennies are unique and hold their own value in the American Currency system, but amongst other pennies, pennies are all the same and worth the same amount.
ERC-721 - tokens are Non-Fungible (NFT's). Meaning that they aren't able to be replaced by one another. Lets go back to the pennies. Since ERC-721 tokens are non-fungible, one token would differ in price or value than another token. Lets pretend these ERC-721 tokens were pieces of art, it's a perfect analogy because no one piece of art is the same as another. Therefore each token having a different price.
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