Biggest NFT marketplace on Cardano celebrates mint of 900,000 NFTs
The NFT market powered by Cardano NFT-Maker has reached a significant Milestone of 900,000 minutes and 30 million ADA redistributed to the creators of the platform. Such redistribution of funds between creators was available thanks to the growing popularity of the Cardano network in general.
As the announcement suggests, over 900,000 NFT projects were minted on the NFT-Maker platform. Such an increase in the volume of minted pieces of non-fungible art and projects is tied to both the growth of the Cardano network and the returning popularity of the NFT industry.
A platform similar to NFT-Maker, LooksRare, previously reported a rapid increase in trading volume, number of users and new projects appearing on the network.
A series of hacks and exploits on the previously biggest platform in the industry, OpenSea, led to the massive outflow of funds and projects from the marketplace that need a new place to function. While some of them chose an alternative on the same network, others joined Cardano-powered solutions.
According to their own website, the NFT-Maker platform includes various features such as bulk typing, developer API, on-demand typing, and other quality of life add-ons.
Cardano network gains momentum
With the growth of the DeFi industry and returning buying power to the market, Cardano and other networks like Aave and Solana faced increased funds inflows, showing that market participants are interested in alternative chains that suggest solutions similar to ones we can already use on Ethereum chain.
The growth of the network is also reflected in the price of the underlying asset – ADA. The coin has gained more than 50% since the March low, showing the fundamental growth of the network. Along with a price increase, the total value of funds locked in ADA smart contracts exceeded $300 million.
