Charles Hoskinson, the CEO of IOG, who created Cardano (ADA), has recently reacted to a whopping sale of a non-fungible token (NFT) on a Cardano-based marketplace.
As recently shared on Twitter, ChilledKong8885 with Android Body has just been sold on a Cardano-based NFT marketplace, jpg.store. According to the report, the buyer spent a total of 135,000 ADA worth $128,524 to acquire the NFT.
“ChilledKong8885 with Android Body (0.08%) was sold on jpg.store for 135,000 ADA ($128,524.16).”
Reacting to the whopping amount paid to purchase ChilledKong8885, Charles Hoskinson, the creator of Cardano, shared a GIF to describe his mood after seeing the update. The news also attracted reactions from the crypto community.
The new development shows that Cardano is growing steadily to match other blockchains that are already thriving in the NFT sector.
A non-fungible token (NFT) is a digital asset that represents real-world objects like art, music, in-game items, and videos. They are purchased and sold online, frequently with cryptocurrency, and they are generally encoded with the same underlying software as many digital currencies.
Although they’ve been around since 2014, NFTs are just becoming a popular way to buy and sell digital artwork, bringing lots of celebrities across the world into the crypto industry. They are also generally one of a kind with their unique identifying codes.
Read Also: Charles Hoskinson and Snoop Dogg to Discuss Cardano Ecosystem at Cardano360
NFTs are different from cryptocurrencies because each has a digital signature that makes it impossible for them to be exchanged for or equal to one another, which is why they are referred to as non-fungible.
They also get exclusive ownership rights. NFTs can have only one owner at a time, and their use of blockchain technology makes it easy to verify ownership and transfer tokens between owners. The creator can also store specific information in an NFT’s metadata. For instance, artists can sign their artwork by including their signature in the file.
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