How to Sell on CNFT.IO
CNFT.IO is the first non-fungible token marketplace to accept NFTs on the Cardano blockchain. The site began operations in July 2021. The site began operations in July 2021. The popularity of the site has grown along with the popularity of the Cardano Network (ADA). As of the end of October 2021, the cryptocurrency ranks 5th in terms of capitalization among all crypto projects. The total capitalization of the project is more than $65.6 billion. Let’s take a closer look at the phenomenon of the popularity of the Cardano blockchain, the specificity of NFT based on it, and find the answer to the question: “How to sell cnft.io token?”.
Features of the Cardano Blockchain
Cardano is a blockchain platform created at the IOHK research lab. Among the developers of Cardano is Charles Hoskinson, one of the founders of Ethereum. ADA is the digital currency of the Cardano platform, named after the world’s first programmer, Ada Lovelace. The platform itself is named after the outstanding Italian scientist Gerolamo Cardano. The Cardano team works closely with the scientific community to review their developments and transparently distribute them.
A Proof-Of-Stake consensus algorithm powers Cardano. The system is written in the Haskell programming language and is designed to create decentralized applications based on smart contracts. Cardano is an attempt to solve the problems of global financial systems within a decentralized blockchain network. Emurgo, the venture and commercial arm of the Cardano project, has invested over $ 100 million in educational blockchain programs, the development of the decentralized finance (DeFi) sector, and non-fungible token (NFT) solutions.
NFT on the Cardano Platform
The Cardano blockchain began full support for implementing smart contracts and creating NFTs from mid-September 2021, immediately after the Alonzo hard fork. The first sale of over $ 1 million worth of NFTs on the Cardano network happened on October 14 on the SpaceBudz platform. A month and a half after the launch of NFT on the blockchain, you can buy on several platforms:
- Galaxy of Art;
- Tokhun and others.
But CNFT.IO remains the central NFT marketplace on the Cardano blockchain. The process of working with non-fungible tokens here is no different from other networks. To create a token you will need:
- Wallet with support for the Cardano blockchain (Meta Mask or other);
- Account on the CNFT.IO platform.
- The content itself requires to be tokenized.
To create an NFT, it is enough to initiate this process in your account and follow the instructions. After the completion of the process, the token will wait for verification for some time. After approval, it will appear in the list of slots offered for sale, and other users will buy it.