Cardano’s ADA passes Two Million Wallets Mark

• On the Cardano blockchain, more than 1.4 million NFTs have been issued, with the number continuing to rise
• As previously reported by U.Today, the previous all-time high of one million wallets was set in late May of this year
• NFTs (non-fungible tokens) are all the rage right now, with consumers expressing a strong desire to leverage blockchain technology to obtain ownership of unique digital things such as artworks

As previously reported by U.Today, the previous all-time high of one million wallets was set in late May of this year. The Cardano community had just 203,519 members on January 1st. As a result, on May 23, the growth had nearly fivefold, and it has increased by another million wallets since then. Prior to the deployment of the smart contracts functionality inside the Alonzo update on September 2, ADA soared to a new all-time high of $3.10.

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NFTs (non-fungible tokens) are all the rage right now, with consumers expressing a strong desire to leverage blockchain technology to obtain ownership of unique digital things such as artworks. As the digital world continues to expand at a breakneck speed, many businesses, art galleries, celebrities, and artists are learning how to use blockchain to digitize their own artwork and other products and sell them on online markets. 

This is especially true for the Cardano blockchain because the native assets standard and lower minting costs allow NFTs to be manufactured and exchanged more inexpensively.

On the Cardano blockchain, more than 1.4 million NFTs have been issued, with the number continuing to rise. In addition to the existing vast worldwide community of Cardano ADA users, new NFT projects are launched on Cardano every day, with a user market that is increasing fast. The Cardano ecosystem lacked a simple mechanism for owners to monitor and show their NFTs until recently. As one of Cardano’s founding organizations and a partner of the Ergo platform, EMURGO contributes to the Cardano ecosystem by continually enhancing Yoroi Wallet. Yoroi Wallet has launched an NFT Gallery to meet Cardano’s burgeoning NFT market.