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Overview
NFTs, or Non-Fungible Tokens, are a type of digital asset that represents ownership or proof of authenticity of a unique item or piece of content, usually using Blockchain technology. Unlike Cryptocurrencies like Bitcoin or Ethereum, which are fungible and can be exchanged on a one-to-one basis, each NFT is distinct and cannot be exchanged on a like-for-like basis. NFTs are traded on NFT Marketplaces such as Opensea and Blur.io.
History
2012: Colored Coins
The concept of NFTs can be traced back to Colored Coins on the Bitcoin blockchain. Although not NFTs in the modern sense, they were an early attempt to represent real-world assets like properties or stocks on the blockchain. Colored coins leveraged the full transaction history of Bitcoin to 'mark' or 'color' individual satoshis with attributes, and enable them to be considered distinctly, creating the non-fungibility property. Colored coins are only possible on blockchains that record the history of individual units, such as Ethereum and Bitcoin -- in contrast, Monero and other privacy coins may not be well-suited for the colored coins use case, due to transactions being cryptographically verified in aggregate rather than at the atomic level.
2017: CryptoKitties
Launched in 2017, CryptoKitties exploded in popularity. These digital cats, each unique, could be bought, sold, and bred, and their ownership was tracked on the Ethereum blockchain. This project brought significant attention to NFTs and highlighted scalability issues with Ethereum due to the high volume of transactions.
2017: CryptoPunks
CryptoPunks, a project consisting of 10,000 unique collectible characters with proof of ownership stored on the Ethereum blockchain, was one of the first "NFT" projects.
2017: OpenSea
OpenSea, a prominent platform in the world of cryptocurrencies and digital collectibles, was founded in December 2017. It was created by Alex Atallah and Devin Finzer. OpenSea provides a platform for users to buy, sell, and discover a wide variety of NFTs, including art, domain names, virtual world items, and collectibles. The emergence of OpenSea was significant in the NFT space, as it provided a centralized location for users to engage with these digital assets, helping to popularize NFTs and bring them to a broader audience.
Notable NFTs
Notable NFTs are those that hold historical significance, such as the earliest projects in the space, cultural significance, economic significance as measured through collection value, or technological significance. Below are highly notable NFT collections.
- CryptoPunks: Launched in 2017, CryptoPunks are one of the earliest and most influential NFT projects. Consisting of 10,000 unique digital characters, each Punk has become a symbol of the NFT movement and a collector's item in the digital art world.
- Bored Ape Yacht Club (BAYC): This collection features 10,000 uniquely generated "Bored Apes." Known for their distinct art style and community perks, BAYC has attracted a global audience and includes exclusive events and benefits for token holders.
- Art Blocks: A platform for programmable art, Art Blocks allows artists to create dynamic and generative artworks as NFTs. Each piece is unique, generated by an algorithm, and has garnered significant attention in the art community.
- Beeple's "Everydays: The First 5000 Days": A collage of 5,000 digital images created daily by the artist Beeple, this NFT sold for a record-breaking $69 million at Christie's, marking a pivotal moment in digital art history.
- Milady : Milady Maker is a distinctive NFT collection characterized by its anime-inspired digital portraits. Each Milady NFT is unique, with various traits and styles that resonate with a broad audience, particularly within the anime and digital art communities. This project has gained attention for its unique aesthetic and the strong sense of identity and culture it fosters among its collectors.
- Trump Digital Trading Cards: The first NFT collection to be launched by a president of the United States (POTUS), this NFT collection features digital trading cards depicting former President Donald Trump in various stylized scenarios and professions. Each card is unique, with a limited number of editions, making them sought-after collectibles among supporters and memorabilia collectors. This project stands out for blending political figures with the digital collectible space, marking a new intersection of politics, pop culture, and NFT technology.
- Pudgy Penguins: Pudgy Penguins is a charming and popular NFT collection consisting of 8,888 distinct, digitally created penguin characters. Known for their cute and rounded designs, these penguins have quickly captured the hearts of the NFT community. Beyond their adorable aesthetics, the Pudgy Penguins project is notable for its community-driven activities and ethos, including charity events and a strong, supportive network of collectors. This collection exemplifies the blend of digital art and community spirit that has become a hallmark of successful NFT projects.
Resources
Lists of Collections
NFTs can be explored on the various Marketplaces such as Opensea, and on the official List of NFT Collections maintained by NFTs Wiki.
List of Marketplaces
Please see the official List of Marketplaces maintained by NFTs Wiki for more information on where NFTs can be bought and sold.
List of Chains
NFTs are traded on a number of blockchains, the most notable and largest volume of these being Ethereum. Please see List of Chains for information on the various blockchains of record where NFT ownership is recorded.
Contact
email: [email protected]