NFT or Non-fungible-token was first created by Kevin McCoy and Anil Dash on May 3 2014 live at the Seven on Seven conference at the New Museum in New York City.

Non fungible tokens history. Non Fungible Tokens with a high or popular ownership history are often highly valued and are issued mostly by celebrities athletes or brands. Unlike traditional sports cards NFTs are resistant. Theyre a type of cryptocurrency token.

The earliest non-fungible tokens were colored coins which Yoni Assia first invented in March 2012. History of Non-Fungible Tokens The origin of NFTs can arguably be traced back to Colored Coins. An example of a non-fungible token.

The rise of digital sports cards emerged in 2017 with the concept of non-fungible tokens. Although they were just recently created they have positively affected the rate at which these exchanges are made. For example ETH or dollars are fungible.

Non-Fungible Tokens NFTs are unique and immutable. This was the first experiment on a Non-fungible-token created via on-chain metadata enabled by Namecoin and it was linked to a unique work of art. It is because of this specific property that NFTs have been finding increasing uses.

For example the first-ever tweet on Twitter by Jack Dorsey was sold for 29 million. Assets like bitcoin are fungible meaning that all bitcoins are the same and completely interchangeable. In simple terms it is a unique digital asset that you can trade with.

Non-fungible tokens are fantastic digital innovations that can potentially change the way transactions are made and completed. Now that weve gone through what non-fungible tokens are and some of the history behind them we can dive into some statistics about NFTs. Short for non-fungible tokens NFTs are unique digital assets.