NFT Turns Five: Creators and Collectors Celebrate Intl. NFT Day

• On September 20, 2017, the term “non-fungible token” was coined.
• Dapper Labs’ CTO, Dete Shirley, created this term.
• OpenSea is celebrating the day by highlighting some historic NFT projects.

With the burgeoning popularity of NFTs, September 20 is marked as International NFT Day. This celebration began five years ago on this day, when Dapper Labs’ CTO, Dete Shirley, coined the term “non-fungible tokens.” Shirley proposed the term in a paper he released, the ERC-721 standard, which eventually became the framework for NFTs.

International NFT Day is about honoring the NFT community’s creators and collectors. Moreover, celebrating this day encourages people to learn about NFTs and develop their own collections.

While celebrating the fifth anniversary of NFTs, Dapper Labs commented,

Since then [September 20, 2017], NFTs have become the heart of countless communities, innovation, and mainstream adoption of blockchain technology — especially right here on Dapper!

The NFT industry is estimated to be a $231 billion behemoth by 2030, and that’s too big a business to be ignored, believes Tarusha Mittal, COO and co-founder of UniFarm, a multi-token reward-taking program.

However, NFTs would become more than merely an industry. Their appeal extends beyond valuation, as they become collectibles that people cherish and identify with. Edul Patel, CEO & Co-Founder of crypto platform Mudrex reiterated this statement by stating,

They [NFTs] are capable of replacing the physical paper documents in every sector, ensuring better security. NFTs will soon be a part of our everyday lives for their unique way of proving ownership.

We are very close to a day when NFTs will be as widespread as, if not more prevalent than, credit cards, reckons Kameshwaran Elangovan, co-Founder & COO, GuardianLink. Elangovan expects that users will get so accustomed to NFTs’ convenience, dependability, and transparency that they will become the de facto standard for digital collectibles and gaming assets.

NFT enthusiasts throughout the world are celebrating International NFT Day with creative approaches. For instance, OpenSea NFT marketplace highlighted some historic NFT projects on their homepage.