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Cardano, the proof-of-stake platform founded in September 2017 by Ethereum co-founder Charles Hoskinson, has made significant strides in the world of blockchain.
Charles Hoskinson, Founder of Cardano
In September 2021, Cardano introduced support for smart contracts, a pivotal move that opened the doors to decentralised finance (DeFi) and non-fungible token (NFT) applications.
The integration of smart contracts on Cardano laid the groundwork for NFT marketplaces like Jpg.store
These platforms have revolutionized the NFT landscape by offering a cost-effective and scalable environment for NFT creators and traders.
Cardano NFTs, commonly known as CNFTs, have brought a fresh wave of innovation to the world of digital assets.
source: jpg.store
CNFTs are unique digital assets minted on the Cardano blockchain. Like their counterparts on other platforms, each CNFT is distinct, possessing its own attributes and metadata that make it completely unique from any other token.
The journey of Cardano's NFTs traces back to notable milestones in the blockchain's history.
One of the earliest landmarks occurred on March 1st, 2021, when the first 100 Berry NFTs on Cardano were minted and later airdropped to addresses staking at BerryPool.
Berry NFT by berrypool.io
These 100 NFTs hold a special place in the Cardano ecosystem as the pioneers, introducing the world to Cardano's NFT potential. Their exclusivity is evident in their current floor price, standing at a remarkable 46,000 ADA, with the highest recorded sale at 85,000 ADA on June 1st, 2022.
Another significant player in Cardano's NFT space is SpaceBudz, which emerged in March 2021 on the Cardano blockchain.
SpaceBudz by Alessandro
Founded by Zieg and Alessandro, SpaceBudz introduced the concept of 10,000 profile picture NFTs on Cardano, setting the stage for broader NFT adoption. As of now, the floor price for SpaceBudz NFTs stands at 1,849 ADA, with the highest sale reaching an impressive 500,000 ADA.
Notably, both of these groundbreaking projects were spearheaded by the same developer, Alessandro Konrad.
Interview with Charles Hoskinson and Alessandro Konrad on SpaceBudz
The popularity of ADA NFTs isn't a mere trend; it's a testament to Cardano's growing influence in the NFT landscape.
Recent reports, including a comprehensive analysis by StockTwits, shed light on why Cardano NFTs have been steadily gaining ground, particularly in comparison to its competitor, Solana.
StockTwits' latest report highlights a significant trend in the world of NFTs, indicating that Cardano NFT floor prices continue to surge.
What's even more compelling is the comparison drawn with Solana, a formidable competitor. Notably, at one point, the Solana Floor Price (FP) index was 102% higher than Cardano's.
However, the tides have turned, and the Cardano FP index now stands 41% higher than Solana's.
Another intriguing insight from StockTwits reveals that Cardano stands as the only blockchain with projects that have witnessed a steady increase in value over the past 30 days.
Nonetheless, when it comes to trading volume, Solana still maintains an edge over Cardano, boasting a trading volume of 1,000,000 USD, while Cardano registers at 180,000 USD as of 25th October 2023.
source: Stocktwits NFT
The surge in Cardano NFTs can be attributed to a maturing NFT space where investors prioritize utility and projects that demonstrate the potential to fulfill their promises and more.
In this landscape, several projects stand out for their diverse contributions to the crypto space (NFA):
Focusing on DeFi, The Ape Society presents a token and NFT lending protocol, catering to the growing decentralised finance market.
Each tappy acts as an access pass to TapTools Pro. A DeFi, NFTs and wallet tracking platform
Fun-focused digital collectibles project.
They recently just launched their Gold Rush Outpost, partnering with Goofy Gophers Mining Club
They dive into the world of crypto mining rigs, and exposes the masses to diversified cryptocurrency mining in a fun, gamified way.
With a unique niche in the market, Book.io caters to literature enthusiasts, bringing books into the NFT ecosystem.
EarthNode's NFTs represent ownership of of an EarthNode
Another player in the DeFi sector, JellyCubes adds depth to Cardano's NFT landscape, offering an alpha group – one of many tools – helping holders navigate crypto.
This project delves into the realms of anime, lore and fashion
When it comes to acquiring Cardano NFTs, there are multiple avenues available for enthusiasts. The Cardano ecosystem offers a variety of methods for NFT acquisition, ensuring accessibility and flexibility.
Cardano NFT marketplaces are prime destinations for both buying and selling Cardano NFTs. Notable platforms in this category include Jpg.store, Dropspot.io, Flipr.io, and JamOnBread.
These marketplaces offer a diverse range of NFT collections, allowing users to explore and engage with the NFT world.
NFT collection launches and drops present a thrilling opportunity to mint Cardano NFTs. During these events, users can create and secure NFTs, often with distinct characteristics and themes. Minting during launches and drops can be an exciting way to own unique NFTs.
In the Cardano ecosystem, users can also earn NFTs as rewards. Whether through participation in community activities, staking, or other engagement, earning NFTs has become a popular method of acquiring these digital assets.
To engage in buying and selling Cardano NFTs, a vital component is a native wallet compatible with ADA NFT marketplaces and websites.
Users can choose from a selection of compatible wallets.
Vespr, Flint and Eternl respectively
Typhon, Nami and Eternl respectively
These wallets provide the necessary infrastructure to seamlessly navigate the world of Cardano NFTs.
At the moment, there are no NFT drops on Cardano this month. As soon as new ones are being launched, we will update here with everything you need to know.
While NFTs have been a part of the crypto landscape for much longer, Cardano's journey with NFTs, spanning almost three years, is still in its early stages.
What started as a promising venture has now evolved into a thriving ecosystem, driven by the enthusiasm of creators, collectors, and investors. But NFTs are just one facet of Cardano's story.
Cardano's decentralised finance (DeFi) scene is also growing. New protocols are emerging, and innovative projects are rapidly taking shape. The big question that looms on the horizon is whether Cardano can bridge the gap and potentially challenge Ethereum's long-standing dominance.
As Cardano's ecosystem continues to grow and diversify, it's a question that may find an answer sooner than we think.
Note: Views presented in this article represents the perspective and opinions of the author and do not necessarily represent Coinlive or of its official policies.
Charles Hoskinson has launched a policy office to push for clearer crypto regulations in the US, hoping to work with the incoming Trump administration. The move has sparked a 35% rise in Cardano's ADA price, reflecting investor optimism for regulatory progress.
AnaisCharles Hoskinson addressed the negative sentiment surrounding Cardano, stating it stems from the network's transition into the Voltaire era, which aims to decentralize governance and address long-standing issues. He emphasized that Cardano's transparency and unique governance set it apart from other blockchains, reinforcing its commitment to innovation, privacy, and long-term growth.
AnaisCardano has begun the first stage of its transition to decentralised governance with the Chang hard fork, which will be completed in 90 days, shifting power to community-led bodies.
SanyaCardano creator Charles Hoskinson is offering $1 million to anyone who can crack the new Lace Paper Wallet, a challenge open until the end of 2024. Is this a masterstroke of innovation or a high-stakes gamble?
KikyoThe speculation around a Cardano ETF could potentially drive ADA towards its previous high of $3.10. With current trading prices around $0.391 and a significant support range, there may be opportunities for a price rebound.
Xu LinHoskinson predicts Cardano could surpass Bitcoin due to its mission and adaptability, emphasising governance and technological evolution.
Cheng YuanCardano is poised for a significant upgrade, with large holders reducing their positions amid mixed sentiment. Technical indicators and upcoming changes suggest a potential price increase for ADA, possibly reaching $0.43 to $0.47.
SanyaCardano (ADA) founder Charles Hoskinson has taken a clear stance on the interplay between politics and cryptocurrencies, urging support for pro-crypto political candidates. This came in response to a post by Ethereum (ETH) co-founder Vitalik Buterin, who cautioned against prioritizing political leaders based solely on their cryptocurrency policies.
WenJunCardano's (ADA) surge continues as investor optimism grows ahead of the Chang upgrade.
Huang Bo
DanteADA's analyst Martinez predicts a bullish pattern, similar to late 2020. Possible 1,750% rally post-April, aligning with Bitcoin's fourth halving. Current ADA valuation: $0.503, emphasizing vigilance in the crypto market.
EdmundCardano Tops Development Activity: Santiment Metric. With 333 events in 30 days, ADA leads, signaling strong commitment. Despite market dip, Cardano's development highlights long-term potential. Ethereum reenters top 10, emphasizing development commitment for sustained investment.
Xu LinThis article aims to learn and understand the UTXO model. It uses an easy-to-understand method to briefly sort out the UTXO models and implementation methods from BTC to Sui, Cardano, Nervos, and Fuel to make it better understood.
JinseFinanceCardano experiences a notable surge in ADA trading volume, surpassing 100% in the last 24 hours, with a total turnover exceeding $900 million. Despite a temporary drop in ADA's price, a swift recovery of 6.6% is observed. Current market dynamics, marked by a trading price of $0.495, indicate renewed investor confidence. Market participants closely watch ADA, emphasizing its influential role in the evolving market trends.
SanyaPositive news about the collapse of China Evergrande and the Fed’s intention to continue with its existing monetary policy has fueled a strong rally in bitcoin and altcoin prices.
CointelegraphThe week-long daily lower high pattern suggests bulls will not be able to flip $43,000 as support, which could drag down many altcoins that just bounced back.
CointelegraphHistorical data shows that October has been a good month for Bitcoin bulls, and Bitcoin’s break above $47,600 on October 1 could be a harbinger of what’s to come for Bitcoin and altcoins.
CointelegraphBitcoin and some altcoins are facing a sell-off at higher levels, suggesting that short-term traders may be taking profits after the recent rally.
CointelegraphAltcoins are selling off ahead of the launch of a bitcoin ETF this week, a possible sign that traders are concerned about the historic launch.
CointelegraphCharles Hoskinson’s blockchain is once again one of the most active networks by transaction volume, second only to Bitcoin, but that hasn’t helped ADA’s price.
Cointelegraph