Are Non Fungible Tokens Here to Stay.
The history of non-fungibles is much longer than most people are aware of. The early NFTs were made in the 2012–2013 Colored Coin era,
Now in 2021 we are still exceptionally early. Despite the massive growth we have experienced in the past two years, the space is still extremely young and growth will only continue with wider acceptance. In fact, The growth of the NFT ecosystem will accelerate as more people and companies realize the impact that NFTs can have on the way they transact buiness.
The Evolution Time line:
October 2017 — CryptoKitties
CryptoKitties NFTs hit the mainstream. CryptoKitties is a blockchain-based virtual game that allows players to adopt, raise, and trade virtual cats. Cats, on a blockchain!
This incredible project made headlinea, from CoinDesk to CNN. The game was clogging and slowing down the Ethereum blockchain or because people were making crazy profits trading them.
2018-19 NFT Cambrian
ExplosionMassive growth within the NFT ecosystem in 2018 and 2019. Almost 100+ projects within the space and more are coming. NFT marketplaces are thriving, led by OpenSea and SuperRare gaining ground. The trade volumes are comparatively small in comparison to other crypto markets, but they are growing at a brisk pace, and will go a long way. On-boarding into the NFT ecosystem has become easier as Web3 wallets, like Metamask, continue to improve. Dapper Labs has also recently launched a Dapper wallet which requires no gas payments
2021 - The Beeple Breakthrough
When Mike Winkelmann, aka Beeple, sold his NFT Everydays: The First 5,000 Days (2021) for $69 million at Christie’s, everything changed. The astronomical price made him the third-most expensive living artist in the world. While NFTs had started generating up impressive prices on NFT marketplaces, this was the first time a prestigious auction house offered an NFT. This alone lent prestige and validation to the novel NFT market and attaracted the serious attention of the artworld all over the globe.