All news: NFT

NFT tokens are non fungible tokens that have become widespread in 2021. Initially, they appeared even closer to the beginning of the last decade, when programmers, together with artists, experimented with code and tried to create a unique non-interchangeable item.

The story began in 2013, when the first attempts to create such items were made in the scripting language of the Bitcoin blockchain. Later, namely in October 2015, the first full-fledged project was launched aimed at NFT tokens called Etheria. The name comes from the Ethereum blockchain, but not the one we know today. That Ethereum today is called Ethereum Classic. Then the Etheria project failed, and non-interchangeable items were hexagonal tiles. Looking ahead, the sale of the collection took place in March 2021 and was sold for $1,400,000.

The history of the development of NFT tokens continued in November 2016. Then the first project was launched that allowed storing images directly on the blockchain itself, PixelMap, which was inspired by the interesting startup The Million Dollar Homepage. However, PixelMap hasn't been able to achieve the huge success it did in August 2021. After 5 years, the creators of the collection were able to sell 3,000 tiles worth $3,300,000.

In 2017, Ethereum began to gain great popularity due to the ability to store information on its blockchain. At the same time, the concept of “non-fungible token” appeared. In 2017, the legendary Crypto Punks collection was born, which, like in most cases, did not immediately gain fame. The same period became notable in the history of NFT items as the time when the first smart contracts appeared on the Ethereum blockchain.

In 2018, the development of the NFT sector and the metaverses was influenced by the Decentraland project, which was able to raise about $26,000,000 through the initial coin offering.

2020 was marked as the year of the rapid development of NFT tokens, and the total capitalization of the sector became 3 times higher than in 2019 and amounted to $250,000,000.

The next year, in the first three months alone, collectors of non-fungible tokens spent more than $200,000,000 on purchases. In 2021, the world's first material work of art appeared from the artist under the pseudonym Banksy. The painting titled “Morons” was a live performance burnt. Thus, Banksy wanted to convey to people the idea of the senseless spending of colossal amounts on items that can be easily destroyed.

Whether by the power of the thought of the artist Banksy, or due to the global downtrend, the NFT token sector has suffered huge damage in 2022. Compared to September 2021, the capitalization level of non-fungible items was reduced by 92%, and the number of active addresses trading assets fell by 88%. There were also many examples of celebrities who bought famous collection tokens and lost huge amounts, sometimes exceeding the $1,000,000 mark.

Despite this, large corporations, including fashion houses, sportswear brands, automakers and others, continue to show interest towards such collections and try to attract new customers in modern ways. Prominent examples include Prada, Nike, Porsche, Gucci, Dolce & Gabbana and others.