NFT stands for Non-Fungible Tokens. Simply put, virtual assets on the internet exist depending on Blockchains. However, in its infancy, NFT looked very different than it does now.
The first known NFTs were “Colored Coins” created in 2012. These are Bitcoins that are “colored” to make them more distinctive than other bitcoins and potentially contain digital assets. Think of Colored Coins like marked coins, making them recognizable among ordinary coins.
However, Bitcoin’s Blockchain inherently does not have a smart contract function, so Colored Coins are difficult to use for ordinary users, making the project quickly fall into oblivion, and making room for more convenient projects later.
#Akrasin #Gamefi #P2E #GameNFT #NFTs
