In September 2021, Italian startup Oasis.srl announced the imminent launch of cho.earth, a new web-based system for creating and selling NFTs tied to places of cultural, tourist and artistic significance. The platform would operate as a blockchain-managed archive of cultural assets, storing records that identify global heritage sites within the BeniCulturaliOnline database.
The NFT Market Boom
The announcement came amid rapid expansion of the NFT market. In 2020, the overall market value reached 250 million dollars—approximately four times the previous year’s figure, according to data from NonFungible Corporation and Atelier BNP Paribas. High-profile sales had drawn public attention to the sector: Jack Dorsey, founder and CEO of Twitter, auctioned his first tweet as an NFT for 2.9 million dollars, while Elon Musk, a cryptocurrency enthusiast, produced an electronic music track titled as an NFT and planned to offer it for sale.
Digital Asset Creation
NFTs had become a mechanism for selling diverse digital creations online—from animated GIFs to digital paintings composed of thousands of images, as well as video and music files. The term itself had become widely discussed and frequently referenced in media coverage of the emerging market.
Frequently asked questions
What is cho.earth?
Cho.earth is a blockchain-based platform developed by Italian startup Oasis.srl for creating and selling NFTs linked to cultural and artistic heritage sites, functioning as a digitally managed archive of cultural assets.
How large was the NFT market in 2020?
The NFT market reached 250 million dollars in total value in 2020, approximately four times the value from the previous year, according to NonFungible Corporation and Atelier BNP Paribas.
Which notable figures promoted NFTs in 2021?
Jack Dorsey sold his first tweet as an NFT for 2.9 million dollars, and Elon Musk produced an electronic music track as an NFT for sale.
