In July 2015, the Ethereum mainnet was launched with a set of token standards. The first Ethereum-based NFT project Etheria Counterparty-powered Rare Pepe (a frog-like meme) attracted a huge fan base, making NFT more publicly known.Ĭredit: The Term “NFT” Is Coined Also, the platform boasted many projects and assets. What is worth noticing is that Quantum truly connects on-chain data with an artwork, unlike Colored Coin.Īfter Quantum, 2014 witnessed the birth of financial platform Counterparty allowing asset creation. Later, the NFT was sold to Dash for 4 dollars by McCoy on the Namecoin blockchain (a cryptocurrency originally forked from Bitcoin software). It was a short video clip by McCoy's wife Jennifer. The first-ever NFT Quantum was designed by both Kevin McCoy and Anil Dash in May 2014. It can serve as an ownership proof of multiple assets like stock, notes, and vouchers. The token consists of Bitcoins of small denomination with their smallest unit being one satoshi. Colored Coin is based on the Bitcoin blockchain for asset management. Nevertheless, his ideas could not be realized due to technological restrictions.Īctually, the first token similar to NFT was Colored Coin invented in 2012. Also, Hal Finney put forward his opinion about scarcity, believing that unique things based on the same rule will be created in the future and many will love collecting those things.
In his description of the cards, similar things can be discovered in his idea of combining cryptography with cards and today’s card NFTs. What a perfect conversation piece to be treasured and shown to your friends and family.” Notice the fine way the bit patterns fit together - a mix of one-way functions and digital signatures, along with random blinding. Fans of cryptography will love these fascinating examples of the cryptographic arts. We're buying and selling 'cryptographic trading cards'. “Giving a little more thought to the idea of buying and selling digital cash, I thought of a way to present it. In 1993, he wrote an email to the Cypherpunks members and discussed the concept of “crypto trading cards”. Similarities can be found in the description of NFT today and that of Crypto Trading Cards by Hal Finney, a renowned cryptographer. In order to gain a better understanding of NFTs and learn how they get started, we’ll briefly introduce the history of NFTs to you. Several years later, NFT has become one of the most interesting topics in the blockchain industry. Dieter Shirley, founder of CryptoKitties, coined the term “NFT” in 2017.
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