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1 - A Brief History of NFTs

from Part I - Introduction and Background

Published online by Cambridge University Press:  02 November 2024

By
Brian L. Frye
Edited by
Nizan Geslevich Packin
Nizan Geslevich Packin
Affiliation:
Baruch College (City University of New York)
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Summary

For better or worse, non-fungible tokens (NFTs) are the most peculiar and least expected art market innovations of the early twenty-first century. This chapter provides a brief history of NFTs and the NFT market, beginning with the invention of blockchain technology, through the creation of the Bitcoin, Namecoin, and Ethereum blockchains, and the NFT phenomenon. It describes a selection of NFT projects and artists and provides a theoretical account of both the art market and the NFT market.

Keywords

NFTsartart marketNFT marketblockchainBitcoinNamecoinEthereumdigital art
Type
Chapter
Information
The Cambridge Handbook of Law and Policy for NFTs , pp. 10 - 37
Publisher: Cambridge University Press
Print publication year: 2024

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