A fossil dating from 440 million years ago is not only the oldest example of a fossilised fungus, but is also the oldest fossil of any land-dwelling organism yet found. The organism, and others like it, played a key role in laying the groundwork for more complex plants, and later animals, to exist on land by kick-starting the process of rot and soil formation, which is vital to all life on land.
This early pioneer, known as Tortotubus, displays a structure similar to one found in some modern fungi, which likely enabled it to store and transport nutrients through the process of decomposition. Although it cannot be said to be the first organism to have lived on land, it is the oldest fossil of a terrestrial organism yet found. The results are published in the Botanical Journal of the Linnean Society.
http://www.cam.ac.uk/research/news/a-load-of-old-rot-fossil-of-oldest-known-land-dweller-identified
Paper: http://onlinelibrary.wiley.com/doi/10.1111/boj.12389/abstract
This early pioneer, known as Tortotubus, displays a structure similar to one found in some modern fungi, which likely enabled it to store and transport nutrients through the process of decomposition. Although it cannot be said to be the first organism to have lived on land, it is the oldest fossil of a terrestrial organism yet found. The results are published in the Botanical Journal of the Linnean Society.
http://www.cam.ac.uk/research/news/a-load-of-old-rot-fossil-of-oldest-known-land-dweller-identified
Paper: http://onlinelibrary.wiley.com/doi/10.1111/boj.12389/abstract