NFTs History and The Future

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NFT History and Future

NFTs or (Non-fungible tokens) were a hot bed in early 2021 with millions if not billions worth in value being traded.

NFT History

NFTs have actually been around for a very long time. I believe the first ever case of this we saw was with a game called CryptoKitties which is still around and thriving well. It was launched back in November 28th 2017 and is a very simple and basic game on the Ethereum network. Collect, breed and sell virtual cats!

From there we rolling into artwork which launched around 2018-2019 and one of the biggest pushers of this was the Winklevoss twins with their platform called nifty gateway which they acquired. From there 2020 to early 2021 NFT's exploded with artwork selling in the millions along with classic memes and other digital assets.

Since then the market has cooled off a big as the fad of owning these has worn off. There are still some artworks selling for millions but the publicity wow factor has greatly diminished. This by no means however means that NFTs are slowing down. In fact they are actually speeding up and finding more use cases.

NFT Future

One of the recent hot topics of NFTs as of late is the boom in gaming again. With less people working and the shock of many losing their jobs but then seeing what stay at home was like I firmly believe many people got a quick shock to reality about why they are working so damn hard every day and simply don't want to go back now. Because of this NFT games like AXIE Infinity and Splinterlands has been getting a lot of attention. Simply for playing a game it is possible to earn $40+ a day from one game. Combine the two games together and play for 4 hours a day and you have yourself earning just as much if you where to go get a job at Walmart (that's freakin wild!)

So what comes next for NFTs?

I seriously see NFTs booming in Gaming even more. Next year 2022 we are expected to see many bigger game title releases including those such as classic MMO style games where every weapon and resource you gather will be logged on the block chain. That in game iron ore you just mined... NFT that sword you crafted NFT. It would seriously remove any and all cheating in a game as every asset in the game would be verified on the chain. It also gives you a new sense of ownership and truly building and taking part in something.

With over 2.5 billion in artwork sold in 2021 so far other places have been gearing up on how they can start using NFTs. This goes for music artist and plane tickets primarily. Where NFTs can be bought for travel and concerts.

We are also seeing them expand into areas such as domain names and other assets.

What do you think will be the next big thing for NFTs?

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5 comments
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Personally, I think game NFTs are more economically viable than Art NFT’s, I may be wrong. But in game NFT’s like Splinterlands, the uniqueness of each card printed is verifiable and retained forever. Unlike Art NFT’s, we’ve seen an artist mint the same art on different chains with different prices more than once.
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You don’t get to have these issues with game NFT’s. This is my reason.

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My thoughts exactly. In gaming the value comes from the functionality, although rarity does factor in.

I also agree with the author that NFTs haven't shown us anything yet. When people start developing serious practical applications like birth certificates, or election ballots, we're gonna see some serious change in how things work.

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What other games are you talking about. I’m definitely interested in a good character building game. I think there’s one on the litecoin chain but it didn’t really grab my attention.

So far Hive is the only blockchain that makes trading those items hassle free.

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