The History
The Stone Age was a broad prehistoric period during which stone was widely used to make tools with an edge, a point, or a percussion surface. The period lasted for roughly 3.4 million years and ended between 4,000 BCE and 2,000 BCE. The Stone Age is contemporaneous with the evolution of the genus Homo, with the possible exception of the early Stone Age, when species prior to Homo may utilize Stones as stones were basically the main source for every activity and tools and so on, as currency and mode of exchange.
As time flies and the era of genus Homo evolved, Stones were recognized as an important element in the history of mankind as they became a form of measurement of exchange. Stones were then used in trading systems, collaterals, assets and so on. In a parallel world, as mankind moves into the modern age with industrial evolution and technology evolution, Stones were then integrated with blockchain technology and are deemed as Non-Fungible Tokens, accepted in marketplaces, exchanges, trades, trustees and many more.
Many years have passed in apprehensions and concerns regarding the promising use cases for driving mainstream blockchain adoption. The year 2021 might spell a new chapter for the applications of blockchain technology with the rising popularity of NFTs. NFTs cannot be purchased on centralized or decentralized crypto exchanges. Instead, they are listed and traded on online marketplaces that are specially built for NFTs.
Non-fungible tokens (NFTs) have quickly become one of the most explosive crypto trends since 2020, with increasingly more cryptocurrency holders and traditional investors seeking to own and speculate on these unique blockchain-based assets. NFTs are virtual tokens that represent ownership of something inherently distinct whether it be a physical or digital item, such as artwork, a soundtrack, a collectible, an in-game item or real estate. Unlike regular cryptocurrencies like Bitcoin (BTC) or fiat money like the U.S dollar (US$), these digital assets cannot be mutually exchanged for one another because each token has a specific value based on its unique traits and attributes.
NFT marketplaces are platforms where NFTs can be stored, displayed, traded and in some cases minted (created). These marketplaces are to NFTs what Amazon or eBay are to goods. In order to access and use these types of marketplaces, a crypto wallet is needed (MetaMask, Token Pocket, Wallet Connect) and users are prompt to connect their wallet by extension or DApps.
Last modified 1yr ago