“I’m guess this the basis of crypto?”
more or less ...
crypto is based on FUNGIBLE blockchain tokens, that is tokens that are all the same and are indistinguishable one from the other ... each crypto token represents only the IDEA of a coin, rather than some digital image or some such as is the case with an NFT ... in other words, crypto is even LESS tangible than an NFT!
So this is basically vapor money?