HomeNEWSCardano is set to get its own NFT marketplace

Cardano is set to get its own NFT marketplace


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Cardano, one of the top cryptocurrencies, will be getting its own NFT marketplace on its blockchain. The marketplace is built by Emurgo, a founding entity of the Cardano blockchain. Notably, this marketplace will be known as Fiborite and will host musicians and artists.

The announcement made on its official blog post read,

“The centralized Web 2.0 is quickly transitioning to a fully decentralized Web 3.0 focused on decentralized digital services, the metaverse, and digital assets such as cryptocurrencies and NFTs that utilize blockchain technology, to better empower individuals and creators.”

Gateway for NFT creators and collectors

Moreover, the blog post stated that the NFT marketplace would enable artists and creators to easily connect with buyers and sellers under one single roof. It added that it would cater to those who are new to NFTs and blockchain technology as a whole. This, further, allows artists to increase their brand exposure to the ever-growing cryptoverse.

The post explained that its NFT market place would be the best artists would have exposure to Cardano’s global community. They would also benefit from its low transaction fees, and user-friendly UX.

Notably, while the announcement of an NFT marketplace has been made, the release date is yet to be unveiled. The blog post also read,

“With a large community of over 2 million ADA holders and a research-driven blockchain utilizing proof-of-stake, Cardano is undeniably a green-environment-friendly technology that comes with industry leading low energy costs, which is a huge benefit to socially conscious artists, buyers, and sellers.”

This announcement comes in days after Charles Hoskinson – Founder of Cardano – unveiled plans for blockchain this coming year. The development streak for next year will have Cardano Improvement Proposals. These proposals will include a native web wallet for interaction with decentralized finance [DeFi] protocols.

Priya is a freelance journalist at BinBits. She has an experience of over two years as a cryptocurrency and blockchain technology journalist. She is an avid reader and has a passion for Japanese culture and art.

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