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It’s undeniable : NFTs are shaking up the digital economy and they greatly enhance the potential associated with blockchain technology. A new era in the development of the Internet is opening before our eyes: the advent of Web3! However, if the non-fungible token industry became popular at the beginning of 2021, the traces of the first NFT date back to 2014! Discover the full history of NFTs in this article!
Quantum: the first known NFT in the history of mankind!
The first known NFT in the history of mankind dates back to the year 2014. At that time, a couple of New York artists, Jennifer and Kevin McCoy, decided to create a video clip to then record it on the Namecoin blockchain. Named: “Quantum”, this first NFT is presented live during the “Seven on Seven” conference at the National Museum of the City of New York City.
The couple McCoy and Anil Dash initially described this technology as “monetized graphics” and the term NFT therefore appeared much later. This creation still remains, at present, the first known issue in the history of humanity of an NFT, that is to say a non-fungible and negotiable blockchain marker associated with a work of art and stored on blockchain technology.
And this NFT was initially sold for a pittance (only four dollars) to Ani Dash, it was resold a few years later by the Sotheby’s auctioneer for 1.47 million dollars!
Creation of Spells of Genesis in March 2015
Spells of Genesis denotes the very first NFT game card game based on blockchain technology. This game was launched in March 2015 and its development has been instrumental in ensuring the development of a new gaming era in which gamers become the owners of their own digital assets. Each trading card in this game represents a historic milestone in blockchain development.
Etheria: the first project dedicated to NFTs
The development of Ethereum technology has largely contributed to ensuring the development of NFTs. The first NFT project, called: Etheria.worldwas launched, by its developers, on October 21, 2015 and therefore only three months after the official launch of the Ethereum mainnet.
It was introduced to the Ethereum network developer community during the DEVCON 1 conference in London. The collection represents a virtual open world (metaverse) made up of hexagonal tiles that can be bought, sold, and built, in the form of non-fungible tokens (NFTs).
Despite the resounding success of the Ethereum blockchain, and although it was a real technological feat at the time, the Etheria collection did not meet the expected success at the time and most NFTs did not find takers!
September 2016: Launch of Rare Pepe trading cards
The launch of collectible cards Rare Pepper in September 2016 marks the launch of the first artistic experience on the blockchain. Some of these files have now sold on the Internet for hundreds of thousands of dollars.
2017: first use of the term NFT and launch of several major NFT projects!
The term NFT was first proposed in 2017 during the Ethereum GitHub when the ERC-721 standard was published. 2017 coincides with the launch of several major NFT projects such as CryptoPunks (June 2017), CryptoKitties (November 2017) or Curio Cards.
CryptoPunks appeared on the market in 2017. This NFT art collection was deployed by Larva Labs studio and it seems to have inspired many other NFT projects, such as Bored Ape Yacht Club. CryptoKitties is an NFT collectible game released by Dapper Labs studio in November 2017.
Launch of the game Axie Infinity in March 2018
Axie Infinity is one of the most famous non-fungible video games in the Ethereum ecosystem. The game was released in March 2018 by Vietnamese studio Sky Mavis. Players can collect creatures called Axies, which they can then use to fight and achieve victory in the game. The platform also offers a marketplace where it is possible to buy (or sell) Axies from other players.
The year 2021: the beginning of glory for NFT!
The year 2021 will mark a real turning point in history. non-fungible tokens. Games based on the universe of non-fungible tokens or even art collections will experience absolutely resounding success.
While most of the 457 virtual land plots in the Etheria metaverse have remained unsold for more than five years, renewed investor interest in the non-fungible token sector has sparked a buying frenzy. All the NFTs then sold like hotcakes on the market.
While each non-fungible token sold, when they were created in 2015, for the sum of 1 ETH, which was around $0.43 at the time, these files are now the subject of a real craze and one buyer even offered 70 ETH (about $130,000 at the time) to buy a small piece of virtual Etheria land!
The year 2021 is also marked by the launch of the collection “Bored Ape Yacht Club” which also marks a real turning point in the world of non-fungible tokens. This collection was founded by production studio Yuga Labs and the collection consists of nearly 10,000 unique non-fungible tokens. In total, this collection has already generated a sales volume of more than 1.08 million ETH on the platform OpenSea (about 1.8 billion dollars!).
Source : Wikipedia
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