Cardano Founder Exploring NFTs Ahead of Alonzo Hardfork

Cardano’s founder shared his interest in Non-Fungible Tokens via his latest Livestream, sharing that the project would focus some of its efforts on NFTs and NFT marketplaces development.

While Cardano’s Project Catalyst currently has around 6 NFT marketplaces looking for funding at this time but Hoskinson shared his interest in providing financial and technical support to these projects beyond the scope of the funding project to further boost their development.

Great Ideas Get Better

As NFTs continue to gather global attention in crypto and mainstream media, the integration of NFT capabilities could prove attractive for developers and content creators to move to the Ethereum competitor at a time when its next hard fork continues to approach.

While most NFT platforms are currently working on top of the Ethereum network, Hoskinson said he had been testing different NFT platforms running in networks like EOS and Algorand to get an idea of the different approaches and technical aspects of NFT.

Despite the increasing gains that crypto and mainstream personalities have recently achieved by minting and selling NFTs, Hoskinson’s testing was done via different aliases to prevent speculation and criticism that could affect his judgment.

According to the live stream, while copying the leading NFT marketplace protocols could be easily done at this time, IOHK has decided to approach several of the “top-10 marketplaces” to discuss the opportunities that moving over to Cardano could provide them with.

 Better Functionality

The focus on NFT doesn’t seem to be on the short but in the long term, as the development team is looking to predict the status of NFTs in the next 5 to 15 years based on the different business models.

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