The concept of NFTs arose from what is known as a "colored coin," which was first issued on the Bitcoin blockchain in 2012-2013. Colored coins are tokens on the blockchain that represent real-world assets and can be used to prove ownership of any asset, from precious metals to cars to real estate, and even equities and bonds. Although not as sophisticated, the original concept was to use the Bitcoin blockchain to store assets such as digital collectibles, coupons, real estate, company shares, and more. They were described as new technology and provided raw possibilities for future utilization.

So, where did this technological craze come from? On May 3rd, 2014, the history of NFTs and the man who invented them, Kevin McCoy, began. He issued his non-fungible token "Quantum" long before the cryptocurrency art market exploded.

An NFT can be created by anyone, from artists to entrepreneurs, art advocates, corporations, authors, videographers, social media personalities, and even average Joes and Joannas. There is no need for experience, and anyone can mint an NFT as long as they can prove they created or legally own the content.

CryptoArt was inspired by cultural phenomena such as CryptoPunks, Rare Pepe, and CryptoKitties. These works of 'art' gained notoriety as a result of viral network effects and the desire to pay large sums of money to acquire them.

NFTs will gradually gain public awareness between 2018 and 2021 before exploding into mainstream adoption in early 2021.

The NFT market is more efficient and liquid than traditional asset transfer methods. Numerous platforms have emerged online, each with unique features for both creators and collectors. The primary area of disruption is focused on limiting centralized fees, which traditional art brokers and auction houses frequently take up to 40% of. OpenSea is widely regarded as the world's largest marketplace for art, music, domain names, collectibles, and trading cards. Mintable's platform is designed to make the minting process as simple as possible for creators.

Enthusiasts from NFTdroops created this infographic by mentioning all important events that had a big impact on NFT history.

They believe that there is a bright future in this exciting new medium. Any artist can and should tap into the powerful blockchain technology at some point.