Cardano is one of the best known cryptocurrencies and went over to smart contracts in the last year. This opens Cardano’s path to emerging markets DeFi and NFTs. The currently most used NFT platform for Cardano is jpg.store.
The Cardano NFT market is still very small compared to Ethereum NFTs at the moment, but has a huge growth potential. jpg.store offers similar features as NFT platforms to leading NFT blockchains like Ethereum and Solana. We present jpg.store.
What is Cardano?
Cardano is a blockchain network that uses the Proof-of-Stake consensus mechanism and offers one of the most efficient and modern networks. Cardano Blockchain is characterized by a combination of decentralization, security and scalability.
Behind Cardano is the Cardano Foundation, which further develops the blockchain according to scientific standards. With its evidence-based approach and long-term development plan, Cardano is probably the most modern and technology-savvy blockchain on the market.
Cardano introduced smart contract features last year. As a result, the Cardano blockchain may be the basis for decentralized applications. Cardano can also be active in the NFT market and in the DeFi area.
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What are NFTs?
NFTs is an abbreviation for Non-Fungible Tokens. These are non-replaceable and non-reproducible digital goods based on blockchain. Unlike the fungible tokens, they cannot be copied and reproduced. These are digital values with a unique digital signature.
Due to their unique nature, NFTs can achieve high prices at trade and sale. Digital artworks in particular in the form of NFTs have often reached high six-digit prices in recent years. Most NFTs are based on Ethereum Blockchain. However, there are also NFTs based on Solana or Cardano blockchain.
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What is jpg.store?
Jpg.store is the most popular marketplace for NFTs based on the Cardano blockchain at the moment. Unlike NFT marketplaces based on Ethereum or Solana, Cardano marketplaces are still quite rare and quite small.
Jpg.store is the most popular marketplace for NFTs based on the Cardano blockchain at the moment. The platform offers a minimalist and manageable marketplace for Cardano NFTs. The NFTs for sale are at the top of the collection page. A click on the NFTs shows the user the properties of the NFT.
The platform charges a transaction fee of 2%. This fee is at the expense of the seller of the relevant NFT.
What is jpg.store launchpad?
Jpg.store has a launch pad where projects from upcoming NFT artists are published. The site provides the launch of the projects so that artists can better concentrate on their art. Launchpad offers:
- a guaranteed listing on jpg.store
- Help with embossing
- Help to avoid scams
What makes jpg.store so popular?
jpg.store now has the largest market share of all Cardano NFT platforms. This is primarily due to the fact that the platform actively addresses the artists, while the artists on other platforms must contact the platform on their own initiative.
In addition to jpg.store, CNFT.io is the second major player among the Cardano NFT exchanges. Behind the two major market leaders are many smaller platforms that also offer NFTs from Cardano.
Many large collections of Cardano NFTs are now primarily available on jpg.store, which drives many Cardano users to the platform. Another benefit is that jpg.store takes royalties, making the platform popular with creators of NFTs. These continue to send more and more users to the platform.
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