Have you ever thought, one day there is an item the price of a cruise ship but has no form? An item that can be owned, but cannot be touched? Now in the digital era, almost all goods and services that we usually use can be accessed through an application or website on the internet. One of the everyday items that have evolved from this digital age is money.
In general, the money we often encounter is just a piece of paper with the nominal and bank of the currency written on it. Meanwhile, nowadays money has the form of digital money which is usually found in e-money or e-wallet applications. Over time, not only money is affected by digitization, now works of art also have digital forms that have economic value and can be traded like works of art in the real world. This causes the trend of the world economy to increasingly shift to asset digitization and NFT or Non-Fungible Token is one of the products of this trend.
Initially, the NFT concept began in 2012 which at that time still used the term Colored Coin. The true function of Colored Coin is as a medium that represents goods in the real world and as a sign of ownership of an asset such as precious metals, cars, houses, and even corporate bonds. With the Blockchain party recording every change of ownership of these digital assets, the Colored Coin system is guaranteed to be very safe.
Since then, Colored Coin has continued to change until 2017 when two digital artists named John Watkinson and Matt Hall created 10,000 digital characters which later became the standard for ethereum tokens (a type of cryptocurrency) and became the forerunner of modern NFT.