Non-fungible tokens, sometimes referred to as NFTs, have been a popular subject of conversation among members of communities all over the globe in the last few years. Specifically, this phenomenon can be traced back to the cryptocurrency industry.
Individuals who claim to be acquainted with NFT inevitably connect it to the Ethereum blockchain. This is true of the great majority of people who claim to be familiar with NFT. In point of fact, the concept of a non-fungible token (NFT) existed a large length of time before Ethereum.
The information that was provided by Pintu Academy indicates that the first step toward the development of NFT was taken on December 4, 2012, when Meni Rosenfeld presented the idea of “Colored Coins,” also known as coloured coins that were issued on the Bitcoin network. This information was provided by Pintu Academy.
Despite the fact that the Ethereum blockchain project has been in development since 2014, the very first platform wasn’t made available to the public until July 30, 2015. In addition, today marks the beginning of a brand-new era for NFT, which was made possible by this launch.
Although the Ethereum blockchain, which serves as the basis for the world’s largest non-fiat currency, did not make its official debut until July 2015, the world’s first non-fiat currency actually appeared somewhere around a year before that. This is despite the fact that Ethereum, which serves as the basis for the world’s largest non-fiat currency, did not make its official debut until July 2015.
Kevin McCoy, a digital artist working under the name of Kevin McCoy, conceived out the idea for the very first NFT on May 3, 2014, and he gave it the moniker Quantum. The moving octagon that makes up Quantum is pixelated and filled with a variety of forms, including circles, arcs, and other shapes that move by sharing a common centre, as is the case with circles and arcs. the same, with the bigger form enclosing the smaller shape inside its boundaries. This work of digital art was sold at auction by Sotheby’s in June of 2021 for a price that was more than $1.4 million dollars.
In the interim, there are a number of non-financial institutions (NFTs) working in other fields that are worthy of the label of pioneers and are the first NFTs working in diverse domains. These institutions are the first to operate in their respective domains. Namely:
1. Terra Nullius
The non-fungible token known as Terra Nullius was the very first cryptocurrency to be produced on the Ethereum network. The NFT in question was made accessible to the general public on August 7, 2015. In a number of posts that can be seen on Reddit, it is said that the project will provide the owner with the opportunity to write short messages in order to customise the NFT. The length of time that the message that is part of the NFT will play for is unknown as of the time that this article was created.
2. The Etheria version 1.1 (Blockplots)
On October 29, 2015, the first version of Etheria v1.1, which is also known as Blockplots in certain circles, was made available to the public. One may claim that this specific NFT was one of the first to herald in the glory of NFTs on Ethereum. This is something that is feasible to assert.
3. Curio Cards
Curio Cards is the name of the first non-fungible token (NFT) art project that will be executed on the Ethereum network. The public was given access to this NFT on May 9, 2017, and as of the time of this writing, Curio Cards has included a total of thirty one-of-a-kind art collection cards that have been crafted by seven different artists. In addition to this, the inventory of Curio Cards includes a total of 29,296 distinct cards, each of which has its own individual worth as well as its own individual rarity score.
MoonCatRescue is an 8-bit non-fungible token initiative that followed CryptoPunks and was released a few months thereafter. MoonCatRescue is the first non-fungible token (NFT) initiative focused on cats and the first non-fungible token project focused on generative art on Ethereum. At the moment, MoonCatRescue has a total of 25,440 pieces, which is over twice the quantity of NFT that is presently accessible on the market.
5. Axie Infinity
This is the first version of Axie Infinity, and if you like NFT games that have a play-to-earn structure, you will probably appreciate this version of the game. Axie Infinity is the first game of its kind to leverage the NFT platform and blockchain technology to empower players in novel ways. The game is based on the play-to-earn model. The video game was made available to the public for the first time on March 14, 2018, which was also the first day of March.