A Thematic History of NFTs

Abstract

The aim of this chapter is to provide a brief but substantive history of non-fungible tokens (NFTs) through a thematic approach. It identifies four key themes that have played a determining role in the evolution of NFTs thus far: Leisure & ludic pursuit, the immiseration of artists, the Covid-19 pandemic and a global monetary expansion-contraction cycle, as well as the unraveling of major crypto entities. The chapter argues that, when taken together, these four factors give an incisive view into how NFTs have evolved in such a short span of time, and the chapter thus offers researchers a useful guide for encapsulating the growth of the NFT space.