The History of NFTs & How They Got Started - Deepstash

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NFTs provide a bright future. Any artist can and should tap into this powerful blockchain technology to reach new audiences that are excited to collect and appreciate their work.

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The History of NFTs & How They Got Started

The History of NFTs & How They Got Started

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The importance of Non-Fungible Tokens (NFT)

An NFT is a unique asset and can represent any digital asset on the Ethereum blockchain. This makes it scarce, provable, and valuable.

It can take the form of digital art, collectables, a creative extension of music, or a blend of all three.

NFTs presents a new medium for artists and creators to showcase and monetize their creations. In turn, collectors have transparency into the authenticity and origin of their purchases.

While you can screenshot an NFT without purchasing it, you would...

The first NFT

The CryptyArt category was started by cultural phenomena like CryptoPunks, Rare Pepe, and CryptoKitties. The viral network effects and the desire to buy these pieces helped these pieces of art to gain fame.

On May 3rd, 2014, Kevin McCoy minted his non-fungible token "Quantum" long before th...

  • 2012-2013: Colored Coins. These are tokens that represent real-world assets on the blockchain and can be used to prove ownership of any asset, from cars to real estate. The idea was to use the Bitcoin blockchain.
  • 2014: Counterparty platform. Counte...

History of NFT: New trends

2016: Trading Cards on Counterparty. Counterparty teamed up with Force of Will, a trading card game, who launched their cards on the Counterparty platform.

2016: Rare Pepes on Counterparty. Memes entered the blockchain and made their way onto the Counterpar...

2017: Cryptopunks

John Watkinson and Matt Hall developed unique characters on the Ethereum blockchain, limited to 10,000.

The project name, Cryptopunks, was referenced to an experiment with Bitcoin in the 1990s.

  • ERC20 is the most common Ethereum Token Standard that allows tokens t...

Between 2018 and 2021, NFTs moved into public awareness before mainstream adoption in early 2021.

The NFT market is more efficient and liquid than current methods of transferring assets.

  • Opensea is the largest marketplace for art, music, domain n...

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