Monday, December 6, 2021

First Cardano Non-Fungible Token (NFT) Marketplace Using Smart Contracts Is Live

Cardano (ADA), the largest proof-of-stake (PoS) blockchain, continues to advance in order to challenge the preexisting smart contract platforms, such as Ethereum, Solana, among others.

On 12th September 2021, Alonzo went live on the mainnet, implementing smart contracts functionality on the blockchain.

Read Also: Benjamin Cowen Highlights How Smart Contracts Can Push Cardano (ADA) To A New All-Time High

SpaceBudz, First Cardano NFT Marketplace Goes Live

SpaceBudz, the first non-fungible token (NFT) marketplace on the Cardano blockchain has been launched. According to the information made available on the platform, 10,000 SpaceBudz are in existence and each astronaut is unique and only owned by users.

SpaceBudz has the quality of other top NFT marketplaces. Anyone can build up a digital collection and share it with others on the platform with the use of the Cardano multi-asset ledger.

SpaceBudz was created by two crypto enthusiasts, who discovered the true potential of the Cardano blockchain. Alessandro, the operator of Berry Pool and creator of Nami Wallet, and Zieg, an NFT-enthusiast, joined hands to create SpaceBudz on the Cardano blockchain.

Read Also: What Charles Hoskinson Said about the Possibility of Hacking Smart Contracts on Cardano Network

How Does SpaceBudz Work?

Users are to get Nami Wallet in order to interact with SpaceBudz. They are to also fund the wallet and add collateral in order to fully connect with the marketplace.

The NFT marketplace possesses four major functionalities, including Bid, Offer, Buy, and Sell.

Bid: Bids can be opened on any SpaceBudz. The bid amount is locked inside the contract. The bid amount stays as long in the contract until the bid is either accepted, the bid is canceled or someone else overbids the current bidder. The current bidder gets automatically refunded.

Offer: Offers can be made by the current holders of the SpaceBudz. The SpaceBud will be locked inside the contract. The SpaceBud stays as long in the contract until the offer is accepted or the offer is canceled.

Read Also: Charles Hoskinson: Users Can Run Smart Contracts on Cardano Once Hard Fork Combinator Event Plays Out

Buy: An offered SpaceBud can be bought. The buyer needs to send the requested ADA to the offerer in order to claim the SpaceBud from the contract.

Sell: A bid on SpaceBud can be sold by the owner. The seller needs to send the right SpaceBud to the bidder in order to claim the ADA amount from the contract.


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Tobi Loba
Tobi Loba is a passionate writer with over 3 million readers from all over the world. She graduated from a reputable university. She joined the crypto ecosystem about two years ago and has written lots of ebooks and articles in relation to cryptocurrency and blockchain projects.

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