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The headline of the presence of non-fungible tokens (NFT) is very long, probably dating back to 1649 when the word "fungible" was mentioned by a diplomat known as Anthony Ascham.
Then in 2017, Dieter Shirley, founder of Dapper Labs and creator of CryptoKitties popularized the use of the word “non-fungible token”, synonymous as NFT as it is currently mentioned.
Below is a brief chronology, the evolution of NFT from a common token to a digital ownership asset that is attracting global warming thus increasing its demand as well as value.
2012-2013: Colored Coins
Considered the first NFT.
Tokens that represent real -world assets include:
Real estate
Coupons
Stock earnings
Subscriptions
Token access
Generation of cryptocurrencies and digital collections
Launched on the Bitcoin blockchain.
2014: Counterparty
Many are already aware of the advantages of launching assets on the blockchain.
Robert Dermody, Adam Krellenstein, and Evan Wagner developed a distributed peer-to-peer (P2P) financial platform known as Counterparty.
The existence of this platform allows the income of assets to have a decentralized exchange (DEX).
The platform has many projects and assets, including trading game cards and buying and selling memes without plagiarism issues.
This year was also the first NFT - ‘Quantum’ was produced, by Kevin McCoy.
Quantum then sold on November 28, 2021 at the price tag, $ 1.4 million (RM5.9 million)!
2015: Spells of Genesis
Counterparty is working with the developer of the game Spells of Genesis.
The founder of Spells of Genesis pioneered the establishment of in -game currency on the blockchain through Counterparty.
They were also among the first to introduce initial coin offering (ICO).
For the record, they also helped Counterparty’s development by introducing an in -game currency: BitCrystals.
This year also the Ethereum network began broadcasting, leading to a new era of NFT.
2016: Rare Pepes and Trading Cards
August
Counterparty partnered with a trading card game, Force of Will to launch the cards on the platform.
Force of Will at the time was in 4th place after Pokemon, Yu-Gi-Oh, and Magic: The Gathering.
October
The era of meme entry into blockchain technology has begun.
Memes are also present on the Counterparty platform as assets,
First meme: Rare Pepes, a kind of meme with a frog character.
Rare Pepes then began to be traded in early 2017 until it received an overwhelming response with the presence of Rare Pepe Meme Directory to display the uniqueness of the meme.
CryptoArt later appeared alongside Rare Pepe Wallet.
This is the first time creators around the world can ship and sell their artwork.
This is also the first time digital art has intrinsic value.
2017-2018: Cryptopunks and CryptoKitties
Larva Labs founders John Watkinson and Matt Hall have launched an NFT project on Ethereum, known as Cryptopunks.
Cryptopunks are produced based on the ERC-20 token standard, limited to 10,000 pieces and no characters are produced alike.
Actually ERC-20 is not suitable for NFT production. On the other hand ERC-721 is more suitable because the ownership and movement of the token can be tracked through a smart contract.
There is also a blockchain-based virtual game, CryptoKitties which is based on the ERC-721.
CryptoKitties received media acclaim and was later owned by Dapper Labs.
It is during this time that people realize that NFT has an extraordinary and unique ‘power’ or attraction.
CryptoPunks should be expensive when NFT is going crazy. Because the price even started at a cheap value in 2017 before increasing to thousands of dollars!
2018-2020: NFT Games
The era of blockchain -based games (also known as crypto/NFT games) and metaverse games began.
The NFT market is growing with the presence of OpenSea and SuperRare.
The existence of Web3 wallets such as Metamask further facilitates NFT trading.
Dapper Labs launched the Dapper wallet that does not require payment of gas costs.
The first decentralization project to join the metaverse space: Decentraland (MANA) as an Ethereum -based virtual reality (VR) platform.
There is also a blockchain -based platform that allows developers to tokenize items in a crypto game: Engine (ENJ).
Through the use of ENJ tokens, virtual items have the same value in the real world.
Axie Infinity (AXS) is also starting to launch.
2021: NFT explosion
Many blockchains: Cardano, Solana, Tezos, Portion, and Flow began to venture into the NFT sector through the implementation of new standards that ensure the digital assets represented are truly original.
After Facebook’s announcement of switching to Meta has pushed interest in NFT coins to extraordinary levels, also having an impact on metaverse-related crypto projects.
The origin of NFT under this crypto umbrella is long, right?
If you ask about how the future of this NFT is, can it last for a long time and be worth it?
Of course many agree! Just as the ancients did not believe in the internet, so did NFT which eventually became a ‘necessity’.
Like it or not, you will definitely go through this era.
