Two years later from the first version of NFT, another project called Counterparty developed on the Bitcoin Blockchain was born. It allows the creation of digital tokens, which have many of the same functions as the current NFT. The point of Counterparty is that it is no longer a currency, but an item that exists on the Bitcoin Blockchain. In 2016, the first NFT that became popular and traded was Rare Pepe — a frog meme.
However, like Colored Coins, the Counterparty project also gradually fell into oblivion because it could not create a common platform for the NFT field to develop. With Bitcoin’s slow processing speed, the existence of NFTs on this Blockchain is impossible.
🙌 How many of you still remember Rare Pepe?
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