Why has it become popular?

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Ethereum itself began to function in 2015, but the platform only received attention in 2017. Then Canadian studio Dapper Labs released CryptoKitties, a blockchain-based game. Users can breed, nurse and sell virtual cats. Each of them has an individual number, as well as Cattributes: mouth shape, eye color, fur type and so on.

Prices for some of the four-legged animals reaches about $ 300 thousand a couple of times about the game wrote in the major media, but after that the excitement died down.

Interest in NFT reappeared in January 2021. It’s hard to pinpoint the exact reasons why NFT suddenly caught the attention of ordinary users. It was preceded by several events and factors.

The threefold growth of bitcoin since 2017: popularity and new opportunities. Low returns in the retail sector prompted investors to invest in cryptocurrency rather than in stocks of companies. There, interest in alternative investments such as centralized exchanges, mining farms and NFTs began to form. Media personalities, including Snoop Dogg, Tony Hawk and Eminem, were also influential in popularizing the latter.
The emergence of the NBA Top Short game from the developers of CryptoKitties. After establishing itself as an NFT developer, Dapper Labs was approached by the NBA. The studio released NBA Top Short, a marketplace where players collect and sell digital collectible cards. The marketplace still ranks first in total revenue among all NFT initiatives.
The confusing structure of digital content monetization. The problem of royalties is always relevant: most of the revenue in the music industry, for example, went to the label and the streaming platform. NFT tokens, due to the blockchain structure, allow the artist to avoid intermediaries in getting profits.