1.1) NFTs

A Non-Fungible Token, also knowns as NFT, is a unit of data with an identifier that cannot be copied, substituted, or subdivided, and is recorded in a decentralized blockchain. The data an NFT contains can be tied to digital images, songs, videos, avatars, and more. In other words, it's a digital means to certify the authenticity and ownership of a specific digital asset and the rights relating to it. However, they can also be used to give an NFT owner access to exclusive merchandise, tickets to live or digital events, or be linked to physical assets like cars, real estate, and much more.

This innovative technology has been around since the early 2010s, but it wasn’t until 2021 that it became widely known across the world with the rise of digital art collections such as Crypto Punks, Crypto Kitties, or Bored Ape - where the premise evolved into the trading and of Digital Art. A new digital ecosystem was created. Prior to 2021, two main triggers contributed to the positioning of NFTs as a new digital standard. The first one with the COVID-19 pandemic and lockdowns, made individuals become more technologically literate and digitally engage with one another on sites such as Twitter and Clubhouse, where the NFT community has established a significant presence.

The second was Beeple. The longtime artist turned into an NFT pioneer when he became the first creator to sell an NFT with a major auction house. When the Christie’s auction for his “Everyday — The First 5000 Days” came to a close on March 11 at an eye-popping $69 million, NFTs could no longer be ignored.

While digital art and collectibles made it to the public's ears, there are countless additional applications of NFT technology that also launched around this time and drew attention to the digital space.