Cardano is a Proof-of-Stake (PoS) platform launched in September 2017 by Ethereum co-founder Charles Hoskinson. In September 2021, Cardano added support for smart contracts, paving the way for the development of decentralized finance (DeFi) applications and non-fungible tokens (NFTs). NFTs landed on the Cardano blockchain in 2022, and Cardano’s native cryptocurrency ADA (ADA) was used to buy and sell them.
The deployment of smart contracts on Cardano enabled the creation of NFT marketplaces, including CNFT.IO and Jpg.store. These marketplaces facilitate NFT projects on Cardano in a cost-effective and scalable manner, attracting many enthusiasts looking for an easy-to-use platform for creators and traders with low-cost transaction fees.
How to mint Cardano NFT?
Minting and building collections are no longer intimidating obstacles for non-tech-savvy NFT enthusiasts, as mining on Cardano is similar to doing it on Ethereum or Solana. The platform offers a lot of help with guidelines to guide creators through the process.
An original NFT can be anything from a single piece of art to a collection of unique items, such as the famous Bored Ape Yacht Club collectibles and CryptoPunks created on the Ethereum blockchain.
Once the artwork is produced, it is minted into an NFT. The next steps are to find the right platform to mint the NFT and the right market to sell it on.
Here is how to create NFTs on the Cardano blockchain:
- Set up a wallet; secure your seed phrase (recovery).
- Deposit some ADA into the wallet to cover minting and transaction fees.
- To mint Cardano NFTs, choose an easy-to-use and compatible NFT creation platform, such as the NFT-maker.io platform.
- Click the “Mint NFT” button and you will be prompted to upload an image.
- Select the music or image file you want to upload.
- On the next page, you can add metadata like title, author, etc.
- You can use the Interplanetary File System (IPFS) for better and more secure storage capacity.
- Then you need to send some ADA to the payment address shown on the next page.
- Your NFT should now be on its way and arrive at the wallet you deposited ADA into.
Cardano NFT Wallets
The Cardano wallet allows participants to use the ADA ecosystem by sending, receiving, storing and staking fungible and non-fungible ADA and Cardano tokens. Cardano NFT wallets allow users to access blockchain-based decentralized applications (DApps) such as decentralized exchanges (DEXs), DeFi applications, and NFT markets. Before choosing the right wallet, it is better to research its security and reputation to avoid risks.
The Nami wallet is a browser extension wallet that can be used in browsers such as Brave, Google Chrome, and Microsoft Edge. Its straightforward interface makes it an easy-to-use wallet to manage all Cardano tokens, including Cardano NFTs, and create multiple accounts without much hassle.
The wallet can be connected to all Cardano DApps and NFT marketplaces and is compatible with major hardware wallets such as Trezor and Ledger. Users can stake ADA with the Nami wallet, but can only delegate the cryptocurrency to a developer’s staking pool, the Berry Pool.
Daedalus is an open source cryptocurrency desktop wallet developed by blockchain infrastructure research and engineering company IOG (formerly IOHK). It is considered a highly secure wallet compatible with Windows, Mac, and Linux, with easy backup and recovery features.
Users can manage all Cardano blockchain tokens, including native assets and Cardano NFTs. Unlike the Nami wallet, Daedalus allows users to stake and delegate their ADA to multiple groups. It is compatible with all major hardware wallets, including Ledger and Trezor.
flint wallet is a native Cardano browser extension wallet. Like most Cardano NFT wallets, users can connect to Cardano DApps such as Cardano DEX and Cardano NFT marketplaces. It is also compatible with Ledger, Trezor and the most popular hardware wallets.
How to buy NFT in Cardano?
There are several ways and places to buy Cardano NFT. Users can trade NFTs on specific Cardano NFT marketplaces, but can also mint them during NFT collection launches and drops or receive them as rewards. All it takes to buy and sell Cardano NFT is a native wallet compatible with ADA NFT marketplaces and websites.
Cryptocurrency minting today provides simple tools to make the process easier. Minting simply means creating the NFT by converting an image or music file into a non-fungible token on the Cardano blockchain.
Users must know the Policy ID that each Cardano NFT collection item must display to verify its identity and authenticity. This protects people from malicious activity and scams that populate the crypto space.
Cardano NFT Markets
Since Cardano is a fast-growing platform for creating and trading NFTs, new markets emerge regularly. Here are some long-standing and popular platforms for buying and selling Cardano NFTs.
jpg.store
Jpg.store is an easy-to-use, smart contract-enabled NFT marketplace that allows users to create, buy, and sell NFTs. It is a simple to use marketplace, where buyers can access a list of the best collections and select the NFT based on price and unique properties. Jpg.store also provides creator royalties and rarity graphics for each asset page.
cardahub
Cardahub is a leading Cardano NFT marketplace where users can buy, sell, and mint NFTs. The marketplace offers a wide range of NFT tools for creators, digital asset collectors, and investors. It is also home to major collections such as Clay Nation, which includes over 10,000 NFTs.
cardano cube
More than a marketplace, Cardano Cube is an NFT infrastructure aggregator with a list of more than 1000 decentralized applications (DApps) and projects based on Cardano. Cardano Cube is a user’s go-to informational platform for everything related to the Cardano ecosystem.
CNFT
CNFT was the first Cardano NFT marketplace, founded in July 2021. Since its inception, the marketplace has launched thousands of unique NFTs and hundreds of Cardano NFT art and music projects, putting it in direct competition with others. Major NFT marketplaces such as OpenSea and Foundation. .
CNFT is compatible with Cardano NFT wallets such as Nami, Gero Wallet, Eternl and Flint Wallet, and provides interesting support tools such as the CNFT Calendar, the first event calendar for the Cardano NFT industry, covering NFT launches and events.
CNFT Jungle is the most extensive automated Cardano NFT rarity database and CNFT market analysis platform. Like Cardano Cube, CNFT Jungle is a marketplace aggregator that lists Cardano projects; however, CNFT Jungle prioritizes rarity.
How to buy and sell NFT in CNFT?
Once the NFT has been created and minted, the trader needs to register with the CNFT marketplace to start browsing the platform. Here’s how to buy and sell NFTs on CNFT:
- First, you need to create an account. The system will ask you for a username, email address and password.
- You will need to connect your NFT-loaded wallet to the newly created CNFT account to sell your tokens. CNFT.io supports any Cardano NFT compatible wallet including Nami and Daedalus,
- Then just click on “wallets” and add your wallet there. You can add your wallet by scanning the QR code or by copying and pasting the public address into your Cardano NFT compatible wallet.
- Send the required amount of ADA to connect your wallet to the platform.
Once you have linked your Cardano-NFT compatible wallet to the marketplace, you are ready to buy and sell NFTs.
The following steps can help to buy an NFT in CNFT:
The following steps can help to sell an NFT on CNFT:
Cardano NFT Projects
The number of NFT projects on Cardano has been increasing steadily in recent months. Despite stiff competition, Cardano saw significant trade volume and demand for its NFTs and metaverse projects, with its popularity as an NFT platform steadily increasing.
SpaceBudz launched in March 2021 on the Cardano blockchain and quickly grew to become one of the most popular projects within the community. The project played a pioneering role in the Cardano NFT community as one of the first Cardano NFT collections, a set of 10,000 collectibles depicting cute astronaut animals, among other items.
Developed the NFT metadata standard and launched the first fully intelligent contract-based marketplace. Users can bid, buy or sell one of the 10,000 animals and creatures, some rarer than others, that make up the collection to participate in this open source Cardano project.
Pavia is a decentralized gaming NFT metaverse project aimed at collecting land to build sustainable spaces for the community. The project is named after the city where Italian mathematician Gerolamo Cardano was born in the 16th century. The Cardano platform took its name from the Italian Renaissance scholar.
Yummi Universe is an ecosystem of NFT creatures, cards, and other collectible artwork. Rarity traits in NFTs are background, hat, body, and face.
Yummi Universe offers a collaboration with a UK merchandise brand based on the fictional character Naru Naru and his foodie adventures. The idea is to bring collections of creatures like Pokemon, Digimon, and Moshi Monsters to the blockchain.
What awaits Cardano
Many see 2023 as a recovery year for cryptocurrencies. The NFT, DeFi, and metaverse industries appear to be attracting the attention of new media, enthusiasts, and investors as the space rebounds from the aftermath of FTX, Celsius, and other major crashes in 2022.
Despite the bear market and negative crypto news, the Cardano NFT Ecosystem has emerged as one of the most promising projects to watch in the coming years, with increasing numbers of new users expected throughout 2023 and beyond.
Ethereum’s high gas prices and Solana’s woes surrounding its relationship with FTX and Alameda, among the biggest investors in Solana during its 2021 funding round, may play in favor of Cardano’s continued expansion, especially as its approach to scalability and interoperability is producing remarkable results.
