Among the information that can be found, the Color-Changing Knives can be traced back to 1930 and usually credited to the illusion master, Walter Jeans.
For the next ninety years, due to its extremely versatile effect, as well as its ease of use, and unique audience interaction, the color-changing knives are very well-loved by the magic world. Countless top magicians perform the color-changing knives as part of their professional repertoire, and some have secured a spot in the famous World's Greatest Magic series.
Many masters have penned down their thinking behind their routines and included them in books or lectures. E.g. Juan Tamariz, Ascanio, Johnny Thompson, Bill Malone, Daryl, etc.
This has resulted in this effect achieving another level of popularity. The Color-changing knives have become one of the most classic and popular magic effects in the world.