{"id":6878,"date":"2023-05-08T15:58:17","date_gmt":"2023-05-08T15:58:17","guid":{"rendered":"https:\/\/nft.runfyers.com\/index.php\/2023\/05\/08\/are-cardano-nfts-the-next-big-thing\/"},"modified":"2023-05-08T15:58:17","modified_gmt":"2023-05-08T15:58:17","slug":"are-cardano-nfts-the-next-big-thing","status":"publish","type":"post","link":"https:\/\/nft.runfyers.com\/index.php\/2023\/05\/08\/are-cardano-nfts-the-next-big-thing\/","title":{"rendered":"Are Cardano NFTs the Next Big Thing?"},"content":{"rendered":"<p><\/p>\n<div>\n<p>Move over Ethereum and Solana, Cardano is capturing NFT market share at a blistering pace. NFT volume on the alternative Layer 1 blockchain hit $8.9m in the first week of May, already setting a new monthly record in the first week of the month. What is fueling this interest in Cardano NFTs?<\/p>\n<figure id=\"attachment_103498\" aria-describedby=\"caption-attachment-103498\" style=\"width: 1200px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/nftevening.com\/wp-content\/uploads\/2023\/05\/Cardano-NFT-Sales-Reached-27-million-And-ADA-Is-Attempting-To-Rebound.png\" target=\"_blank\" rel=\"noopener\"><noscript><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-103498\" src=\"https:\/\/nftevening.com\/wp-content\/uploads\/2023\/05\/Cardano-NFT-Sales-Reached-27-million-And-ADA-Is-Attempting-To-Rebound.png\" alt=\"Layer 1 blockchain Cardano has a flourishing NFT scene\" width=\"1200\" height=\"675\" srcset=\"https:\/\/nftevening.com\/wp-content\/uploads\/2023\/05\/Cardano-NFT-Sales-Reached-27-million-And-ADA-Is-Attempting-To-Rebound.png 1600w,   https:\/\/nftevening.com\/wp-content\/uploads\/2023\/05\/Cardano-NFT-Sales-Reached-27-million-And-ADA-Is-Attempting-To-Rebound-300x169.png 300w,   https:\/\/nftevening.com\/wp-content\/uploads\/2023\/05\/Cardano-NFT-Sales-Reached-27-million-And-ADA-Is-Attempting-To-Rebound-1024x576.png 1024w,   https:\/\/nftevening.com\/wp-content\/uploads\/2023\/05\/Cardano-NFT-Sales-Reached-27-million-And-ADA-Is-Attempting-To-Rebound-768x432.png 768w,   https:\/\/nftevening.com\/wp-content\/uploads\/2023\/05\/Cardano-NFT-Sales-Reached-27-million-And-ADA-Is-Attempting-To-Rebound-100x56.png 100w,   https:\/\/nftevening.com\/wp-content\/uploads\/2023\/05\/Cardano-NFT-Sales-Reached-27-million-And-ADA-Is-Attempting-To-Rebound-150x84.png 150w,   https:\/\/nftevening.com\/wp-content\/uploads\/2023\/05\/Cardano-NFT-Sales-Reached-27-million-And-ADA-Is-Attempting-To-Rebound-450x253.png 450w,   https:\/\/nftevening.com\/wp-content\/uploads\/2023\/05\/Cardano-NFT-Sales-Reached-27-million-And-ADA-Is-Attempting-To-Rebound-1200x675.png 1200w\" sizes=\"(max-width: 1200px) 100vw, 1200px\"\/><\/noscript><\/a><figcaption id=\"caption-attachment-103498\" class=\"wp-caption-text\">Cardano NFTs are one of the fastest-growing sectors in Web3<br \/>Image Credit: Cardano Feed<\/figcaption><\/figure>\n<h2><span id=\"What_is_making_Cardano_NFTs_so_popular\"><strong>What is making Cardano NFTs so popular?<\/strong><\/span><\/h2>\n<p>Since Cardano\u2019s launch in 2017, fans of the blockchain have applauded its low transaction costs, sustainability, and speed. These characteristics are a perfect combination for a flourishing NFT market. Buyers can buy and sell NFTs quickly and without exorbitant gas fees.<\/p>\n<p>Ethereum is still the most popular blockchain for NFT trading. However, it\u2019s struggling with scalability. During the recent meme coin bull market, gas fees have steadily cost between <a href=\"https:\/\/decrypt.co\/138989\/pepe-meme-coin-hysteria-pushes-ethereum-gas-fees-1-year-high\" target=\"_blank\" rel=\"noopener\">$50-$100 per transaction<\/a>. These high costs are a major impediment for most market participants and have many people looking for an alternative.<\/p>\n<p>Enter <a href=\"https:\/\/nftevening.com\/cardano-nfts-smart-contracts-and-defi-projects-see-a-huge-rise-in-volume\/?swcfpc=1\" target=\"_blank\" rel=\"noopener\">Cardano<\/a>. Its first NFT project, CardanoKidz, struggled at first due to Cardano\u2019s lack of functional smart contracts. Developers eventually figured out a solution, however, and the project successfully minted out using the ADA token. Since then, many new projects have successfully launched on Cardano.<\/p>\n<p>Some other popular Cardano projects include SpaceBudz, <a href=\"https:\/\/nftevening.com\/champ-medici-releases-nft-music-on-cardano-with-clay-nation\/\" target=\"_blank\" rel=\"noopener\">Clay Nation<\/a>, and The Ape Society. These collections have helped Cardano maintain a firm grip on sixth place for all-time NFT volume behind Ethereum, Ronin, and Solana, Flow, and Polygon.\u00a0 Much of this success also stems from Cardano\u2019s recent Vasil upgrade.<\/p>\n<p>The Vasil upgrade enhanced block latency speed and efficiency and helped catalyze a surge in Unique Active Wallets. The dominant NFT marketplace on Cardano JPG Store registered a 13.6% growth in active wallets over the last 30 days after the upgrade. During that time, the marketplace\u2019s volume also increased by 40% to $11.2m.<\/p>\n<figure id=\"attachment_103502\" aria-describedby=\"caption-attachment-103502\" style=\"width: 1200px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/nftevening.com\/wp-content\/uploads\/2023\/05\/1500x500-scaled.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-103502 perfmatters-lazy\" alt=\"CardanoKidz was an early NFT project on Cardano\" width=\"1200\" height=\"400\" src=\"https:\/\/nftevening.com\/wp-content\/uploads\/2023\/05\/1500x500-scaled.jpg\" srcset=\"https:\/\/nftevening.com\/wp-content\/uploads\/2023\/05\/1500x500-scaled.jpg 1200w,   https:\/\/nftevening.com\/wp-content\/uploads\/2023\/05\/1500x500-300x100.jpg 300w,   https:\/\/nftevening.com\/wp-content\/uploads\/2023\/05\/1500x500-1024x341.jpg 1024w,   https:\/\/nftevening.com\/wp-content\/uploads\/2023\/05\/1500x500-768x256.jpg 768w,   https:\/\/nftevening.com\/wp-content\/uploads\/2023\/05\/1500x500-168x56.jpg 168w,   https:\/\/nftevening.com\/wp-content\/uploads\/2023\/05\/1500x500-150x50.jpg 150w,   https:\/\/nftevening.com\/wp-content\/uploads\/2023\/05\/1500x500-450x150.jpg 450w\" data-sizes=\"(max-width: 1200px) 100vw, 1200px\"\/><noscript><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-103502\" src=\"https:\/\/nftevening.com\/wp-content\/uploads\/2023\/05\/1500x500-scaled.jpg\" alt=\"CardanoKidz was an early NFT project on Cardano\" width=\"1200\" height=\"400\" srcset=\"https:\/\/nftevening.com\/wp-content\/uploads\/2023\/05\/1500x500-scaled.jpg 1200w,   https:\/\/nftevening.com\/wp-content\/uploads\/2023\/05\/1500x500-300x100.jpg 300w,   https:\/\/nftevening.com\/wp-content\/uploads\/2023\/05\/1500x500-1024x341.jpg 1024w,   https:\/\/nftevening.com\/wp-content\/uploads\/2023\/05\/1500x500-768x256.jpg 768w,   https:\/\/nftevening.com\/wp-content\/uploads\/2023\/05\/1500x500-168x56.jpg 168w,   https:\/\/nftevening.com\/wp-content\/uploads\/2023\/05\/1500x500-150x50.jpg 150w,   https:\/\/nftevening.com\/wp-content\/uploads\/2023\/05\/1500x500-450x150.jpg 450w\" sizes=\"(max-width: 1200px) 100vw, 1200px\"\/><\/noscript><\/a><figcaption id=\"caption-attachment-103502\" class=\"wp-caption-text\">CardanoKidz helped create a community around Cardano NFTs<br \/>Image Credit: CardanoKidz<\/figcaption><\/figure>\n<h2><span id=\"What_makes_Cardano_NFTs_different\"><strong>What makes Cardano NFTs different?<\/strong><\/span><\/h2>\n<p>Cardano NFTs have three unique features compared to NFTs on other blockchains.<\/p>\n<p>First, Cardano NFTs can be created without smart contracts. This ability helps reduce potential minting errors and human error. As a result, creating NFTs on Cardano is safer and easier than creating NFTs on other chains.<\/p>\n<p>Secondly, Cardano is separated into two layers, the settlement layer and the computational layer. This architecture frees up network congestion. Transaction fees are subsequently much less expensive compared to fees on other blockchains.<\/p>\n<p>Lastly, developers built Cardano with the option to batch transfer assets to multiple destinations with just one transaction fee.\u00a0 Project creators can distribute assets to many different wallets without hundreds or thousands of individual fees. This feature greatly reduces project founders\u2019 costs and has helped grow a vibrant NFT community.<\/p>\n<h2><span id=\"What_does_the_future_hold_for_Cardano\">What does the future hold for Cardano?<\/span><\/h2>\n<p>Cardano remains one of the fastest-growing ecosystems in Web3. Even though it\u2019s at an early stage in its development, Cardano has already created an atmosphere of innovation and excitement for developers, end users, and projects. It seems like a good bet that Cardano NFTs will continue to blossom along with the eco-friendly blockchain.<\/p>\n<p>\u00a0<\/p>\n<p><iframe data-test-id=\"beehiiv-embed\" width=\"100%\" height=\"320\" frameborder=\"0\" scrolling=\"no\" style=\"border-radius: 4px; border: 2px solid #e5e7eb; margin: 0; background-color: transparent;\" class=\"perfmatters-lazy\" data-src=\"https:\/\/embeds.beehiiv.com\/37fed65e-f01c-4c4c-b8f1-1b71da0be0a4\"><\/iframe><noscript><iframe loading=\"lazy\" src=\"https:\/\/embeds.beehiiv.com\/37fed65e-f01c-4c4c-b8f1-1b71da0be0a4\" data-test-id=\"beehiiv-embed\" width=\"100%\" height=\"320\" frameborder=\"0\" scrolling=\"no\" style=\"border-radius: 4px; border: 2px solid #e5e7eb; margin: 0; background-color: transparent;\"><\/iframe><\/noscript><\/p>\n<div class=\"bottom-text__wrapper post-content\">\n<p>\u00a0<\/p>\n<hr\/>\n<p><em>All investment\/financial opinions expressed by NFTevening.com are not recommendations.<\/em><\/p>\n<p><em>This article is educational material.<\/em><\/p>\n<p><em>As always, make your own research prior to making any kind of investment.<\/em><\/p>\n<\/div>\n<\/div>\n<p><a href=\"https:\/\/nftevening.com\/are-cardano-nfts-the-next-big-thing\/\" target=\"_blank\" rel=\"noopener\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Move over Ethereum and Solana, Cardano is capturing NFT market share at a blistering pace. NFT volume on the alternative Layer 1 blockchain hit $8.9m in the first week of May, already setting a new monthly record in the first week of the month. What is fueling this interest in Cardano NFTs? Cardano NFTs are [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":6879,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[9],"tags":[21],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/nftevening.com\/wp-content\/uploads\/2023\/05\/1500x500-scaled.jpg","jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/posts\/6878"}],"collection":[{"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/comments?post=6878"}],"version-history":[{"count":0,"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/posts\/6878\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/media\/6879"}],"wp:attachment":[{"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/media?parent=6878"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/categories?post=6878"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/tags?post=6878"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}