Web3 and crypto organizations teamed up to celebrate NFT Day five years after the market’s framework was first shared.
Tuesday, Sept. 20 marks the first-ever International NFT Day.
If you’re wondering why Tuesday of all days, it’s simply because it marks five years since Dieter Shirley submitted the ERC-721 proposal — a token standard that developers agree to follow on Ethereum for nonfungible tokens (NFTs). ERC-721 marked the first use of the term “nonfungible token.” Shortly after, thousands of NFT projects began to spring up since developers finally figured out how to link artwork and digital goods to verifiable tokens.
Shirley is now the CTO at Dapper Labs, where he co-created CryptoKitties, the first known blockchain-based game that leverages NFTs. This is the first known use case for Ethereum’s blockchain and smart contracts tech, allowing players to purchase, collect, breed, and sell virtual cats.
“Within a few short years, NFTs have already encouraged people to take their first steps into decentralized technology, but we’re still early in the journey,” Shirley said in an official news release. “NFTs allow people to own a piece of social space, from virtual locations, music, fashion, and art – even individual moments representing significant cultural touchstones. NFT Day gives all creators an opportunity to tell that story together.”
Five years of NFTs
ERC-721 and Cryptokitties helped push the mainstream adoption of blockchain tech that continues to expand today. According to Verified Market Research, the NFT market was valued at $11.3 billion in 2021. It’s expected to reach nearly $232 billion by 2030.
Dapper is also giving away commemorative collectibles that are free to claim for anyone. The NFTs are minted on the Flow blockchain, with holders automatically entered into a drawing to win NFT Day merch. Currently, nearly 40,000 people have minted their own.
OpenSea is celebrating by featuring historical NFT collections on its homepage. The premiere NFT marketplace has been in business since NFTs hit the market five years ago. Some collections featured on OpenSea’s website today include Bored Ape Yacht Club, CryptoKitties, CryptoPunks, and Degen Toonz.
Here are some more celebratory tweets from around the NFT community.