The world is being ravaged by the non-fungible token (NFT) industry. Digital tokens have been around for a while, but their popularity exploded in March after artist Beeple’s piece, Everydays: The First 5000 Days, was sold for a whopping $69 million.
Since the blockchain’s introduction of smart contracts, the NFT market on Cardano has flourished.
SpaceBudz #9936 sold for 510,000 ADA on Tuesday, which is worth $1,098,000 at the time of writing, with ADA trading at $2.153. This is the first million-dollar sale of Cardano NFT.
SpaceBudz is a non-fungible token (NFT) platform based on the Cardano blockchain. SpaceBudz is made up of 10,000 one-of-a-kind NFTs that consumers can possess after purchasing it.
Artists, musicians, influencers, and sports teams can earn from digital goods that would otherwise be cheap or free thanks to NFTs, which employ blockchain technology to create an official copy of digital property.
They enable owners of digital art, collectibles, and a variety of other products to track ownership and are growing in popularity as blockchain technology gains traction.