The concept of Non-Fungible Tokens (NFTs) was first proposed in a whitepaper by a person or group of people using the pseudonym “Bitcoin founder” in 2014. The whitepaper outlined the use of blockchain technology to create unique digital assets that cannot be replicated or exchanged for an equal value. However, the first implementation of NFTs was made by the CryptoKitties team in 2017, which was the first decentralized application built on Ethereum blockchain that allowed users to buy, sell and breed virtual cats represented as ERC-721 tokens, which are a type of NFTs. Since then, many other projects and platforms have implemented NFTs in various forms and for different purposes.
