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The Beginning Of NFT
The concept of NFTs started around 2012-2013 in the form of different colored bitcoin. -
The First NFT
In May 2014 the first NFT named Quantum was minted by Kevin McCoy in New York on the namecoin blockchain. -
The First Blockchain Game
In 2015 the first blockchain game was created using the bitcoin blockchain. The game was called Spells of Genesis, and it was a game that consisted of trading cards and using them. The in game cards on this game were actually NFTs because the game used the blockchain, so this was the first form of NFTs in video games. -
The Launch of Ethereum
June 30, 2015, Ethereum was launched. Ethereum is the most commonly used cryptocurrency for trading NFT. Vitalik Buterin is a Russian Canadian computer programmer who is the main founder of Ethereum. The other founder consist of Gavin Wood, Charles Hoskinson, Anthony Di Iorio, and Joseph Lubin. Today, Ethereum is the second largest cryptocurrency and the most common cryptocurrency for trading NFTs. -
The Rare Pepes Collection Were Minted
In 2016 The Rare pepes collection were minted in the bitcoin blockchain which were non-fungible cards that were collectable. This was the first form of blockchain art. The rare pepes wallet was created by Joe Loonie, which was a wallet that let users trade rare pepes. This wallet was a wallet that used counterparty to trade cards. Up until 2021 rare pepes were only traded on counterparty but ones the NFT started to gain mas popularity they started to be traded on OpenSea. -
The Cryptopunks collection was released
One of the first NFT collections crypto punks witch were images of pixelated avatars that were released in June 2017 on the Ethereum blockchain before the release of ERC-721 with now is the standard protocol for trading NFTs. Because they were released before ErC-721, now they need to be wrapped as ERC-721 to be traded. -
The Release of Cryptokitties along with ERC-721
In November 2017 ERC 721 launched with Cryptokitties witch is a virtual game on the Ethereum blockchain where you could buy sell bread or trade cats, and they were technically non fungibles. Cryptokitties also played a very important role in trading NFTs. -
The Release of OpenSea
In December 2017 Open sea was launched. Open sea is a NFT marketplace that is used for selling NFTs at a fixed price or through an auction. Open sea was created by Devin Finzer and Alex Atallah who were inspired by Cryptokitties and wanted to make a marketplace for selling NFTs. OpenSea is now the largest marketplace for trading NFTs, and Cryptokitties played a huge role in the creation of OpenSea. -
The launch of Axie Infinity
Come 2018 Axie Infinity, an online game that used NFTs and Ethereum blockchain, was created by Vietnamese studios sky Mavis. In the game, players were able to collect creatures and use them in the game. Also, you were able to sell in game items as NFT for Ethereum. In the game, you could earn in game items by just playing the game, so users could earn cryptocurrencies by playing the game. -
The release of Decentraland
Decentraland was a browser based game that launched in February 2020. The game was made by Argentinians Ari Meilich and Esteban Ordano, and in the game you could buy and sell plots of land and in game items. This game was a lot different that other NFT games because the NFT were things that you could actually use and not just collectibles. The game is off to a slow start because it has lots of technical issues, but people think that if those can be resolved, that it could have potential. -
The Release of NBA Top Shot
In October 2020 one of the most popular NFT collections to date was released. NBA top shot was a collection that allowed NBA fans to purchase video clips and pictures from the NBA in the form of NFTs. When the collection was released it took off quick with over 1.1 million user and over 800 million dollars worth of NFTs sold. This collection had a major impact on the entire NFT world because it brought awareness to the NFT world and to the blockchain. -
The Launch of the art block collection
In November 2020 art blocks, a NFT collection of virtual generated art, launched. The art blocks collection was one of the first NFT art collections and had a huge impact on the art world. When you wanted a NFT you would pay for it, the computer would generate a piece of art and then mint it as a NFT. NFT art really affected the art world because lots of artists used the blockchain to distribute their art work in the form of NFTs. -
The Launch of the Bored Ape Yacht Club Collection
In 2021 NFTs started to become popular with the release of the bored ape yacht club. The board ape yacht club is a collection of over, 10000 unique pfp NFTs. The owners of these NFTs have full commercialization rights to these NFTs and can do whatever they want with them. The bored ape yacht club is one of the biggest collections of NFTs and played a huge role in growing the value of NFTs in 2021. Because of the success of the bored ape yacht club, it inspired the launch of other collections. -
The NFT market reached all time high
On January 19, 2022, the market reached its all-time height, but not for long. -
The Crash Of NFTs loosing 97% value
Come September 2022 the market for NFT crashed and lost 97% of its value. This crash cause almost 2 trillion USD of value lost due to the NFT crash. Now NFTs are pretty much worthless.