*Disclaimer: Cryptocurrency investment is subject to high market risk. The statements made in this article are for educational purposes only and should not be considered financial advice (NFA) or an investment recommendation. Always DYOR. Never invest more than you can lose — you alone are responsible for your investment.
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.
ADA faces challenges as whales exhibit apathy towards its recovery, coupled with its removal from a major fund, signaling potential further struggles ahead.
BerniceCardano (ADA) stabilizes amidst whales' accumulation, with recent market dynamics indicating potential for an upward price movement. Whales capitalized on the market dip, bolstering ADA holdings, while a decline in short-term traders suggests reduced price volatility. Technical indicators hint at a bullish sentiment, with ADA's price positioning above EMA lines. However, the sustainability of this trend remains uncertain, with potential resistance at $0.82 and support at $0.56. Investors should monitor market dynamics closely for further insights.
BerniceWhile Cardano faces challenges in the current market, Trend Rider's analysis suggests potential for a bullish surge, contingent upon maintaining crucial support levels.
Cheng YuanCardano welcomes its first fiat-backed stablecoin, USDM, marking a significant milestone in its ecosystem's evolution. The introduction of USDM aims to enhance security, scalability, and user confidence, potentially driving further growth and adoption.
BerniceCardano blockchain's surge in user engagement, reflected in active wallets and DeFi growth, showcases promising developments. However, ADA's struggle to keep pace with the overall market raises concerns. Integration plans with FireFly API offer potential, yet ADA's performance remains modest compared to leading altcoins.
SanyaCardano's active wallet addresses surge alongside a booming DeFi sector, reflecting growing user engagement. Leading protocols witness significant growth, contributing to Cardano's price surge amid broader cryptocurrency market rallies.
SanyaEthereum's bullish momentum signals a potential surge towards $5,000, while Solana targets $150 after breaking resistance. Cardano's retracement prompts discussions on resurgence potential, with key barriers at $0.80 and $1.00. Despite challenges, market interest remains, suggesting recovery opportunities.
SanyaBitcoin hits $50k, bringing profits for investors, while Cardano whales explore Rebel Satoshi for new opportunities, presenting a promising investment frontier with its innovative features and strong community support.
MiyukiWhile recovery might be close, there is still long way to go
ZoeyCryptocurrencies like Retik Finance, Shiba Inu, Bonk, and Cardano offer accessible paths to supplement or replace monthly salaries through affordable entry points and staking rewards. While enticing, success requires caution, strategic investment, and recognition of individual project risks in this dynamic yet promising asset class.
JoyVan Gogh-inspired NFTs fetch $2.5 million in Bitcoin, marking a cultural breakthrough. The sales, coinciding with Musée d’Orsay's Tezos blockchain initiative, reflect a growing interest in classical art NFTs. These transactions inject life into the NFT market, signaling its evolution and resilience.
JixuThe Bonkz trading volume is over $1.9 million in the Magic Edens marketplace.
BeincryptoFear not, weary souls of crypto who see no end to suffering in sight—ostensibly erotic, pixelated feet pics are here, and they may have saved the day.
decryptA fast-rising floor price caps the once written-off collection’s banner year.
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