OQFT stands for Open Quasi-Fungible Token.
“Quasi-Fungible: The degree to which an alternative item is interchangeable with a Reference item (or a user-conditioned version of a Reference item) given a particular use, specification or set of specifications for the Reference item, such that the element of quasi-fungibility is defined in terms of a measure of inter-changeability for a good/service/event/outcome or combination thereof on a scale of 0 to 1.00 where 0 means non-fungible and 1.00 means totally fungible.”
Source: US8543478B2 United States Patent
https://patents.google.com/patent/US8543478B2/en
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