NFTs have been operational on the Cardano network for some time. Before the network’s smart contracts capability debuted, users could mint and sell NFTs without requiring a smart contract address. This has been one of the network’s draws; and users have taken full advantage of the ability to trade NFTs on the blockchain.
However, in comparison to the leading NFTs blockchain Ethereum, Cardano NFT sales have been insignificant. Cardano had yet to see its first million-dollar sale; whereas the Ethereum network had seen NFTs sell for as much as $69.3 million in the case of Beeple. This is primarily due to the network implementing NFT capability later than Ethereum and having less buyer interest.
SpaceBudz Sells First Million-Dollar NFT
Since the blockchain’s introduction of smart contracts, the NFT market on Cardano has exploded. Although these smart contracts are not required for minting NFTs; they increased network usage, which increased interest in NFTs minted on the platform. On the Cardano network, SpaceBudz make the first NFT sale above $1 million. Several artists have released and sold NFTs on the blockchain; and now SpaceBudz has successfully recorded the first Cardano NFT sale worth more than $1 million.
SpaceBudz is a non-financial-transaction (NFT) platform based on the Cardano blockchain. The SpaceBudz is made up of 10,000 unique NFTs that users can own after purchasing it. The sale is announced on Twitter by a bot that reports every listing and sale of a SpaceBudz NFT.
Cardano Celebrates Ada Lovelace
Cardano’s native token, ADA, is named after one of the first known programmers. Ada Lovelace was one of the women; who pioneered software programming following the introduction of the first computers in the 1940s. Members of the community call themselves Lovelaces, a tribute to the mathematician.
IOHK joined the scientific community in commemorating Ada Lovelace Day; which honours the contributions and achievements of women in STEM fields.
Source: NEWSBTC
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