Who invented NFTs?: A brief history of nonfungible tokens

Who invented NFTs?: A brief history of nonfungible tokens

As mentioned, the story took off with colored coins, which were created to represent and manage ownership of real-world assets on the blockchain. They were different from Bitcoin (BTC) because of the “nonfungible” element that provided them with a unique utility.

Demonstrating a humongous leap in Bitcoin’s capabilities, colored coins were composed of tiny fractions of a Bitcoin, which could be as minuscule as a satoshi. Use cases of colored coins, such as the representation of property, coupons, or usage as digital collectibles, subscriptions, shares and access tokens, helped people realize the potential of blockchains for issuing assets.

Bitcoin, however, was never intended to be used as a database for tokens, which meant that colored coins just remained at the concept level. However, the development

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