GIF is Not Peanut Butter

CompuServe releases the Graphics Interchange Format (GIF) standard as a new computer graphics file format. Due to color limitations, the GIF format is unsuitable for reproducing color photographs, but it is well-suited for more simple images such as graphics or logos with solid areas of color. This made it probably the most popular graphics format for the early Internet, until the famous “GIF licensing controversy” soured many designers to its use. The PNG format was developed in response as an alternative to GIF to get around the licensing issues. However, all relevant patents have since expired and the GIF format may now be freely used. Today it still sees widespread use, especially when simple animations are needed.
First Modern Color Movie

The Warner Brothers’ film On With the Show, the first talking movie that is all in color, debuts at New York City’s Winter Garden theater. The film uses two-color Technicolor and Vitaphone sound.
Apple Passes $500 Billion Valuation

The stock value of Apple, Inc. surpasses $500 billion, setting a new record for the company which was already the world’s most valuable company at the time. This day marks a milestone on the historic run for the company from near-bankruptcy in the 1990’s to one of the most, if not the most, dominant technology company in recent history. Apple would later become the first company in history to surpass $700 billion in value in February 2015.
Tokyo Skytree Completed
February 29, 2012
Construction of the Tokyo Skytree broadcast tower, delayed two months due to the 2011 Japan earthquake and tsunami, is completed on leap day – February 29th, 2012. The Tokyo Skytree is the tallest structure in Japan and the world’s tallest tower.

