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There were some NFT-like projects or "proto NFTs" that pre-date CryptoPunks; Rare Pepes, for example, was released on Counterparty in 2014. [citation needed] The economic insecurity created by the Covid-19 pandemic sharply increased trade in risky investments like NFTs. The highest NFT trading volumes were achieved between August 2021 and May ...
CryptoPunks is a non-fungible token (NFT) collection on the Ethereum blockchain.The project was launched in June 2017 by the Larva Labs studio, [1] a two-person team consisting of Canadian software developers Matt Hall and John Watkinson.
The concept of non-fungible digital assets that could be owned on a blockchain predated ERC-721, with projects like Colored Coins on Bitcoin in 2012. [7] In 2017, just prior to ERC-721’s publication, Larva Labs launched the CryptoPunks NFT project on Ethereum using ERC-20 (a fungible token standard).
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The investment round was led by New York based Union Square Ventures and San Francisco based Andreessen Horowitz. [14] [15] On May 12, 2018, a CryptoKitty was sold for $140,000. [16] In May 2018, CryptoKitties launched their first celebrity-branded CryptoKitty with Stephen Curry, an American professional basketball player.
An NFT is a data file, stored on a type of digital ledger called a blockchain, which can be sold and traded. [9] The NFT can be associated with a particular asset – digital or physical – such as an image, art, music, or recording of a sports event. [10] It may confer licensing rights to use the asset for a specified purpose. [11]
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