NFTs have been live on the Cardano network for some time. Before smart contract capability debuted on the network, users could strike and sell NFTs without needing a smart contract address. This has been one of the attractions of the network and users have taken full advantage of this ability to trade their NFTs on the blockchain.
However, compared to the major Ethereum blockchain NFTs, Cardano NFT sales have been minimal. Where the Ethereum network has seen NFTs sold for up to $ 69.3 million in the case of Beeple, Cardano had yet to see its first million dollar sale. This is mainly because the network deploys NFT capacity later than Ethereum and generates less interest from buyers.
SpaceBudz Sells First Million Dollar NFT
The NFT market on Cardano has exploded since the capacity for smart contracts was introduced on the blockchain. While these smart contracts are not required for NFT minting, they have attracted more users to the network, which in turn has sparked more interest in NFTs created on the platform. Various artists have released and sold their NFTs on the blockchain, and now SpaceBudz has successfully recorded the first Cardano NFT sale over $ 1 million.
ADA price trading at $2.11 | Source: ADAUSD on TradingView.com
SpaceBudz is an NFT platform built on the Cardano blockchain. The SpaceBudz consists of 10,000 unique NFTs that users can personally own after purchasing it. The project disseminates its sale on Twitter via a robot which reports every ad and sale of a SpaceBudz NFT.
On Tuesday, the SpaceBudzBot account reported that SpaceBud # 9936 had been sold for 510,000 ADA. At the current ADA price of $ 2.11 at the time of this writing, the NFT has sold for $ 1,076,100. A record sale on the Cardano network.
– SpaceBudzBot (@spacebudzbot) 12 October 2021
Famous Cardano Ada Lovelace
Cardano’s native ADA token is named after one of the earliest programmers on record. Ada Lovelace is one of the women who pioneered software programming after the first computers were used in the 1940s. Community members are called Lovelaces, an ode to the mathematician.
The IOHK joined the scientific community to celebrate Ada Lovelace Day, which commemorates the contributions and achievements of women in STEM fields.
Today is Ada Lovelace Day – celebrating one of the early pioneers and programmers of technology!
It is an international celebration of the achievements of women in science, technology, engineering and mathematics, to increase the profile of women in STEM. #Cardano https://t.co/bp1X6rC79z pic.twitter.com/tCgcvaoZHZ
– Input Output (@InputOutputHK) 12 October 2021
The Cardano Foundation has made notable contributions to innovation and growth in science and technology, and founder Charles Hoskinson is set to travel the African continent as the foundation invests in startups ‘pushing blockchain in the region. The African tour is expected to start in South Africa, but the departure time has not yet been announced.
Featured image from The Cryptonomist, chart from TradingView.com