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Beyond the NFT hype: Creating lasting business models for artists
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It could be argued that nonfungible tokens, or NFTs, have been a concept since 2012. For instance, the inception of “Colored Coins” in 2012 may have laid the groundwork for NFTs today, as this project demonstrated how the Bitcoin (BTC) blockchain could be used as a transaction mechanism for real-world assets.
Fast forward to 2017, a time when CryptoKitties became one of the most popular decentralized applications, or DApps, ever built on Ethereum. CryptoKitties was described in 2017 by Ryan Hoover, founder of Product Hunt, as “the first Ethereum-based decentralized Pokemon-like game, in which users can collect and breed digital kittens.”
Unsurprisingly, as cryptocurrencies gained mainstream adoption, the concept of nonfungible tokens also
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