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NFTs and Metaverse

Cardano Founder Hoskinson Upbeat on NFTs and Future Plans

Cardano Founder Hoskinson Upbeat on NFTs and Future Plans

Despite recent struggles in the cryptocurrency market, Charles Hoskinson, the founder of Cardano (ADA), remains optimistic about the progress of his ecosystem.

In a recent podcast with Input Output Global (IOG) President Tamara Haasen, Hoskinson highlighted the success of non-fungible tokens (NFTs) issued on Cardano, which he considers to be the most vibrant part of the network at the moment.

Hoskinson reported that over 8 million assets have been issued on the platform, with more than half of the projects being NFT-related.

In the previous week, NFTs were among the top Cardano projects with the highest engagement. Notable NFT projects on the platform include the Satellite CNFT, The Piggy Banking Barn, and JPG Store, which found their place among the likes of the artificial intelligence (AI) marketplace SingularityNET (AGIX), crypto wallet Eternl, and decentralized exchange Minswap Labs.

Hoskinson also shared plans for further innovation in the NFT part of the Cardano ecosystem. He reported that the team is looking to implement a user-friendly domain-specific language (DSL) called Marlowe for writing and executing financial contracts.

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The Cardano team is exploring the possibility of making Marlowe a turnkey low-code, no-code solution to issue NFTs or program out the logic of how NFTs work. Hoskinson also revealed that he is exploring the possibility of binding intellectual property with NFTs, as this issue is “near and dear” to him.

Additionally, the Atala PRISM team is assisting with the endeavor of implementing Marlowe for NFTs. Hoskinson stated that the team has already looked at putting identity with NFTs, which could be the verified NFT standard the PRISM team has discussed.

The IOG team recently published a detailed list of updates on the Cardano platform, including enhancements to the Plutus debugger and the Marlowe Runtime scaling strategy. They also finalized benchmarking runs and analyses for the new SECP primitives and announced the upcoming node v.1.35.6 release.

Alexander Stefanov

Reporter at CoinsPress

Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.

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