During the last few months, the non-fungible token (NFT) scene has exploded with lots of celebrities jumping on the bandwagon, high grossing auctions, and even some controversy on the side. A lot of people don’t realize how old NFT collectibles are, as years ago developers and artists created NFTs like Nilicoins (artcoins), Rare Pepe trading cards, and Curio cards as well. Since the NFT boom has straddled new heights, these old NFTs are in demand again and being sold at auctions.
Color Coins and Nilicoins
The NFT ecosystem has grown exponentially and it seems everybody is getting in on the trend. Digital artists selling NFTs have made millions at auction and a great deal of celebrities and socialites are minting NFTs now as well.
The NFT space is very popular, but the concept is nothing new, as color coin technology has existed on the Bitcoin (BTC) network and other chains for years. Color coin tech was first mentioned by Yoni Assia in a post called “bitcoin 2.X (aka Colored Bitcoin) — initial specs” published back in 2012.
That year developers began to really look into the concept of asset-pegged cryptocurrencies as the topic was also written about in 2012 in J.R. Willet’s Mastercoin white paper. The concept of asset-pegged cryptocurrencies, stablecoins, and non-fungible tokens really started gaining steam with projects like Counterparty, the Omni Layer Protocol, and then later with Ethereum.
For instance, on September 14, 2014, the artist Nili Lerner announced her Nilicoins (artcoins) that used brand names like eBay coin, Coca Cola coin, and Apple coin. The creator recently tweeted about the old project…