Cardano NFTs on their way to new record highs
The Cardano NFT world is becoming more compact and tighter, which can help to ensure that the Cardano NFTs reach greater heights. The Rise of Cardano NFTs When you look at the price history of the top collections, you...
The Cardano NFT world is becoming more compact and tighter, which can help to ensure that the Cardano NFTs reach greater heights.
The Rise of Cardano NFTs
When you look at the price history of the top collections, you see an upward trend for the most part. However, compared to NFTs on Ethereum (ETH), the Cardano (ADA) fNFT world is more compact and dense. However, the prices have not reached the levels that a few Ethereum collections have reached. In addition, sales volumes are generally lower.
Currently there is a constant flow of development. When combined with the right catalyst for wider recognition, Cardano NFTs could be on their way to reaching greater heights.
It is sometimes difficult to determine why a certain NFT collection suddenly rises in price while others fall by the wayside. In addition, there are a large number of factors that play a role. However, hype is what drives the NFT world, and attention is very important in that regard.
As such, influencers and celebrities can play a decisive role. A key figure in the NFT world is the rap legend Snoop Dogg, who is now also a major NFT art collector. Last year uttered Snoop himself as the person behind the philosophical NFT enthusiast Cozomo de’ Medici. However, there were doubts whether that disclosure was really correct and therefore true.
The Cardano NFT project Clay Nation has announced a partnership with Snoop, who Baked Nation seems to be called. This project consists of collectibles, music and land plots from the Clay Nation metaverse. Additionally, Snoop and Cardano founder Charles Hoskinson plan to hold Twitter Spaces together on April 5.
It’s official: @SnoopDogg † @champmedici will partner with Clay Nation to bring you iconic collectibles, unreleased music, & limited edition ‘pitches’.
Join Snoop, Champ & @IOHK_Charles † @The_ClayMates on April 5 | 18.00 UTC ☎️@InputOutputHK @Cardanohttps://t.co/dnZACeiooE pic.twitter.com/81sQ48NEI2
— Clay Nation 🏕️ (@The_ClayMates) March 31, 2022
Immediate impact
This news had an almost immediate market impact. For example, the NFT market saw more than a doubling of the Clay Nation NFT Awards from an average selling price of about 1600 ADA to about 3300 ADA.
A realistic expectation is that this influence will spread to other Cardano NFT collections. Snoop’s participation puts a lot of eyes on Cardano’s NFTs. As buyers focus on Clay Nation, it’s likely they’ll explore what else is on offer next.
If there had been an influx a few months ago, Cardano’s NFT world wouldn’t be equipped enough to handle it. However, there is a marketplace with good UX and several well-executed, high-quality NFT projects to explore.
To an NFT collector/trader accustomed to ETH prices, Cardano’s NFTs will seem relatively cheap. Especially compared to the blue chips.
The NFT world right now feels like a place of transition, both for better and for worse. On the one hand, adoption is growing and some big web3 brands are claiming a bright future. At the same time, though, it’s a market tainted by pulls and rip-offs, and in which veterans of the experience are a little jaded.
Build up steadily
The Cardano NFT move started on March 1, 2021, when 100 Berry NFTs were created. Later they were sent to the first 100 delegates in the Berry stakepool.
Later that same month, the creator of the Berry NFTs and manager of the Berry stakepool, Alessandro Konrad, launched SpaceBudz, a 10,000-piece PFP collection. This has become Cardano’s most iconic NFT project. At that time, there was no working marketplace and transactions took place directly between holders. This was done using quickly put together escrow services, with Discord serving as the main platform for chatting.
The first marketplace was CNFT.IO, which has been instrumental in expanding the ecosystem. CNFT.IO, while still active, has been succeeded by JPG Store. JPG Store can currently be seen as Cardano’s OpenSea.
Various NFT projects
As for the NFTs themselves, in addition to the above SpaceBudz and Clay Nation, you also have DEADPXLZ. DEADPXLZ is a colorful collection working on a play-to-earn game.
Pavia is a metaverse development that continues to build steadily and has launched its own $PAVIA token. The Yummi Universe project sparked excitement this week with a document outlining comprehensive plans for the future.
Also of interest is Rats DAO, who has assembled a comprehensive vault of Cardano NFTs, including assets from SpaceBudz and Clay Nation. Rats DAO has airdropped its own $RAT token to holders of its own NFTs.
To buy and sell Cardano NFTs, the primary marketplace is called JPG Store. The most popular wallet is Nami, which you will need to charge with some ADA. To trade Cardano coins, including $PAVIA and $RAT, there is the decentralized MuesliSwap exchange.
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