The Origin of NFT

The origin of NFT can be traced to the year 2012. It was a blog post by Yoni Assia who mentioned the concept of the coloured coin. At the end of the year, the potential of the new assets was discussed in a paper titled “Overview of Colored Coins” which was published by Meni Rosenfeld. From 2014 to 2016, some projects made their attempts on cards, gameassets, and collectables creation and trading. 2017 was a significant year for NFT, the success of CryptoPunks and CryptoKitties let more people notice NFT. Technically, the ERC721 standard was firstly applied in CryptoKitties in 2017. which was widely applied in plenty of projects in the later years. To make the ERC 721 tokens fit with the virtual items, Enjin created a brand-new standard as ERC 1155, which allows for an infinite number of both fungible and non-fungible items in a single contract. The appearance of ERC 1155 boosted the development of blockchain games. Much more blockchain projects focus on the NFT application and its economic value in recent years. In 2021, many investors are willing to pay high rates to secure and promote NFTs because they believe they will be the biggest and most profitable collectibles in thefuture.