First NFTs on Ethereum

First NFTs on Ethereum

The story of the CryptoPunks didn’t begin with blockchain. The co-creators had previously developed a pixelated character generator, but they didn’t have an application for it until they discovered Ethereum. Inspired by the possibilities of using blockchain technology to verify digital ownership, they developed the project into an experiment in how art could be represented virtually.

Since there wasn’t an established way to represent NFTs on Ethereum at the time, the CryptoPunks were created with the ERC-20 token standard (the same one used by other Ethereum cryptocurrencies like SAND and MKR).



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