4 changes in the NFT space that will inform the future of art and Web3
Four recent developments in the Web3 space illustrate the way NFTs are not only changing the art world, but becoming the future of asset ownership and exchange for Web3.
NFTs have come a long way since their ideation ten years ago.
The concept was first proposed in 2012 as “colored coins,” or trackable bitcoins that had non-fungible built-in token utility. The first NFT—Quantum, by Kevin McCoy—debuted in May 2014, but NFTs really took off when they found a home on the Ethereum blockchain, which allowed for tokenization, contracts, and other utilities that NFTs inherently needed. Since then, NFTs have boomed in popularity and presented a new way for artists to mint and sell work, connect directly with their audience, and provide proof of ownership...
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