This week’s guest on the Cardano NFT Column is a minting platform that is expanding into diverse facets of this technology, helping artists and developers leverage the benefits of blockchain and NFTs: NMKR.io (formerly NFT-MAKER).
Last week’s guest was the founder of the first algorithmically-generated art in the form of NFTs on Cardano.
This initiative is a point of reference for NFTs on Cardano and every week or two we will invite someone to answer some questions and give us an update directly from within the Cardano community.
Considering that many of our readers are new to the crypto space, we will have a mix of simple and technical questions.
Cardano NFT project: NMKR.IO (formerly NFT-MAKER)
Hi, glad to have you here. Please tell us something about your team, where are you from, what are your backgrounds?
Our team is spread around the world, with most of our members based in Switzerland and Germany.
Patrick Tobler, our CEO and Founder, has been involved with several successful Cardano NFT projects launched with the support of NMKR and is an iconic thought leader within the NFT and crypto space. He has a computer science background.
- Sascha is our Tech Lead with a background in information technology.
- Max is our Tech Lead with a background in software development.
- Fahim is our Design Lead with a background in interaction design.
- Kristian is our COO with a background in media production as a director.
- Chris is our CMO with a marketing background in Esports.
- Ann-Kristin is our CFO with a background in financial services.
- Peter is our Gaming Lead with a background in games development.
In addition, we have 15+ wonderful members from all around the world with diverse backgrounds and experiences.
Please introduce NMKR. Where did the idea come from, and what services do you provide to users?
The idea of NMKR was born out of the necessity of accessible tools for minting Cardano NFTs. The need for these tools became apparent after the rise of popular Cardano NFT projects.
We saw the potential for NFTs to change the way people interact with digital content and we provide an easy-to-use platform called NMKR Studio that enables anyone to create, manage and mint their own Cardano NFTs with minimal technical knowledge.
What are your thoughts on the Cardano NFT ecosystem so far, and where do you see it heading in the future?
Cardano is one of the most valuable blockchains for NFTs due to its scalability, security, and low transaction fees. Within the Cardano NFT ecosystem, we have seen the rise of incredible projects such as SpaceBudz or ADA Ninjaz, and the rebranding of NFT-MAKER to NMKR. These are just a few examples of how the Cardano community is continuing to grow and innovate.
We believe that the future of the Cardano NFT ecosystem is bright and we are excited to be a part of it.
You rebranded NFT-MAKER to NMKR. Tell us why.
NMKR (pronounced as N Maker) is a strategic rebrand of NFT-MAKER to reach new audiences with NMKR products and bring improved experiences for users in the decentralized economy.
The transition to Web3 will require us not only to specialize in NFTs but also to provide a variety of other utility cases on blockchains for our customers. Our customers have been asking for more than just crypto-collectibles – they want real-world utility cases. The Web3 world is coming, and we’re ready to support our customers in realizing their projects.
We will continue to mint NFTs the same way we did. However, with recent technical capability advancements, we want to do more and help others realize their dreams of building blockchain products or services or integrating blockchain into their existing ones. We are on a mission to make decentralization even more usable.
In the near future, we will tackle real-world problems with blockchain technology. We see the gaming space and beyond as an incredible opportunity for making a true contribution.
How are you planning to accomplish that idea?
The NMKR Studio (formerly NFT-MAKER PRO) at the core of NMKR products will provide easy-to-use development APIs and no-code building blocks for modular development needs on multiple blockchains and support various Web3 use cases. Moreover, NMKR Studio will be the backbone of our ecosystem products. We are confident that this will be a successful product in sustaining other use cases because the underlying API technology of NMKR Studio has already minted over 1 million NFTs on Cardano.
Tell us more about the other projects you have lined up.
Through NMKR Games, our brand is also looking to cater to gaming audiences by focusing on gameplay first and game development powered by blockchain technology. The NMKR Store is like a marketplace that is being designed as a platform to support gaming use cases, such as Games Access for players but also for selling and trading collectibles.
The additional NMKR Agency will help artists and companies launch blockchain-related projects through a conglomerate of experts. We think this is the perfect way to introduce new people to Cardano and blockchain technology in general!
What are your thoughts on the Web3 gaming space and how will NMKR fit in it?
One of the things we criticize about NFTs in games is that they are mainly used for pushing hyped-up land sales or play-to-earn gaming. We don’t associate with the play-to-earn model as it doesn’t create any utility and is completely unsatisfying for most users. Instead, at NMKR, we focus on game developers who build fun-to-play games and even monetize them.
An example are access tokens, which are NFTs that give digital rights and protect the creative vision. Therefore, every time a game gets sold off in a secondary market, the developer gets compensated or even receives royalty payments every time it’s resold. This blockchain gaming concept hasn’t existed before and we are happy to be leading it.
Our leadership firmly believes that utilizing NFTs as access keys to web games or live gaming streams is yet another use case and could be bigger than we can imagine.
Overall, the Game Launchpad initiative aims to prove that this kind of concept can work, and with this MVP, we will welcome the community’s opinion, like why they think this could be a better alternative to centralized platforms like Steam. This will be a great learning opportunity for us and we will make any iterations wherever necessary.
You also have your own fungible token called $NMKR. Tell us more, what is its utility and how can people get their hands on it?
$NMKR is a utility token that connects our ecosystem and grants a user the rights to vote on changes within our ecosystem. This means they can make decisions like whether or not an NFT project should be verified as being real, and even adjust reward parameters. When staked by users their trust score increases depending upon how much was committed.
We first got $NMKR listed on a centralized exchange called LCX. The $NMKR token is also available for trading and swapping on several major Cardano-based decentralized exchanges (DEXs) including SundaeSwap, Minswap, MuesliSwap, and WingRiders. The total supply of $NMKR is capped at 10 billion.
Thank you kindly for your contribution. Any closing remarks? Where can people get in touch?
Even though NMKR is looking to be blockchain agnostic, Cardano will always be a strong focus. We are building our ecosystem on Cardano because we believe in the project, the technology, and most importantly the community. We want to make sure that everything we do is in line with the Cardano ethos and helps further the adoption of the protocol.
People can get in touch with us by email or by joining our Discord group. Phil Isenmann is our support guru! He’ll answer any of your relevant queries and help you find what you’re looking for.
Disclaimer: The opinions and views of the people interviewed are their own and do not necessarily reflect those of the Cardano Foundation or IOG. Moreover, this content is for educational purposes, it doesn’t constitute financial advice.
Disclaimer: Cardano Feed is a Decentralized News Aggregator that enables journalists, influencers, editors, publishers, websites and community members to share news about the Cardano Ecosystem. User must always do their own research and none of those articles are financial advices. The content is for informational purposes only and does not necessarily reflect our opinion.
PrivaCrip to Power a Blockchain Network That Could Follow Cardano & XRP
When the first decentralised blockchain was popularised in 2008 by Satoshi Nakamoto, the door was open for people across the globe to transact more securely and seamlessly. Many blockchain networks have been built and powered by native crypto tokens, including PrivaCrip (PRCR).
Native tokens exist for several reasons. Aside from acting as digital currencies, they perform various functions. Helping blockchains improve data traceability, security, transparency, and trustworthiness shared throughout the network. They also assist in reducing costs through their ever-evolving efficient methods.
Cardano (ADA) and Ripple (XRP) are among the best blockchain-based cryptos that this article will discuss. We will also look at how PrivaCrip (PRCR) will power a blockchain network set to launch into the crypto space.
Top Tier Crypto Makes its Mark – Cardano (ADA)
Cardano (ADA) has been around in the crypto space since 2017. The Proof-of-Stake (PoS), Ouroborous Cardano (ADA), was established using a research-based methodology.
Research is the backbone of Cardano (ADA) and is integral to its success in the cryptocurrency market. Cardano (ADA) uses an evidence-driven mechanism and peer-reviewed research to run its ecosystem to drive its evolution.
Among many things, Cardano (ADA) helps establish DeFi products and provides a suite of financial solutions. Crypto enthusiasts can stake Cardano (ADA) for a chance to earn rewards for their holdings.
With 2022 providing challenges in cryptocurrencies across the globe, Cardano (ADA) is one of the few cryptos to see a surge in on-chain trading volume this year. CoinMarketCap lists Cardano (ADA) as the 7th largest crypto by market capitalization at the time of writing.
Making Waves – Ripple (XRP)
Launched in 2012, Ripple (XRP) is a leading provider of crypto solutions for businesses. Ripple (XRP) provides developers with a solid open-source foundation for executing demanding projects. It is fast, energy-efficient, cost-effective, and reliable.
The solutions provided by Ripple (XRP) enable developers to solve inefficiencies, including asset tokenization and remittance. Therefore, individuals and businesses may apply Ripple (XRP) for DeFi, payments, tokenization, and more.
Crypto enthusiasts with a long-term focus may find Ripple (XRP) a valuable investing tool. Token holders can use Ripple (XRP) for staking its mainnet platform for a chance to grow their earnings and maximise profit.
The New Face Of Privacy – PrivaCrip (PRCR)
The soon-to-launch PrivaCrip (PRCR) is a cryptocurrency built for Web3 data privacy. It will allow users to develop and use permissionless and privacy-preserving applications. This unique feature of PrivaCrip (PRCR) secures apps, protects users, and fosters the creation of many new Web3 uses.
PrivaCrip (PRCR) will drive a blockchain that creates a more empowering and inclusive internet. It will enable developers to build secure dApps using private contracts based on original privacy research (OPR) to revolutionise Web3.
PrivaCrip (PRCR) will begin pre-sale soon and has an initial token price of 0.10 USD. According to the whitepaper, there will be a total supply of 190 million tokens, of which 40% of the total supply will go to the pre-sale.
Crypto enthusiasts who purchase PrivaCrip (PRCR) during the pre-sale will receive the most significant long-term rewards and bonuses. Those who buy with Bitcoin (BTC) will receive a 10% bonus. Also, those using Ethereum (ETH) to purchase will receive 15% of the total PrivaCrip (PRCR) they purchase as a bonus.
10% of PrivaCrip’s (PRCR) total supply is up for distribution as staking rewards, meaning that token holders who stake will receive rewards for their contribution to the crypto’s advancement.
Blockchain networks are continuously evolving, and so are the crypto tokens that power them. Cardano (ADA) and Ripple (XRP) have contributed tremendously to the success of their blockchain networks, gathering mass appeal.
PrivaCrip (PRCR), for its part, will drive a security-enabled blockchain and scalability in private DeFi, empower data tokenization, and bring together a fast-growing community. Acting on its promise, it has the potential to become the next big mover in cryptocurrency.
For more on PrivaCrip (PRCR), check below:
Cardano (ADA) Withdrawal Fees Waved by Bitrue Exchange
Singapore-based cryptocurrency exchange made Cardano one of its base trading pairs earlier this year
Singapore-based cryptocurrency exchange Bitrue announced that it had temporarily waived withdrawal fees for the Cardano (ADA) cryptocurrency.
The trading platform says that the move is meant to celebrate the support it received from the community behind the cryptocurrency.
Users will be able to withdraw ADA without paying any fees until mid-September.
Bitrue has stressed that it wants users to have “as much choice as possible” when it comes to custody options. Those who want to hold their ADA tokens will not be able to do so without paying an additional commission.
At the same time, Bitrue has touted its “Power Piggy” yield-farm investment program for those who want to earn passive income with ADA.
As reported by U.Today, Bitrue introduced the token as its base currency back in February.
In June 2021, it also became the first cryptocurrency trading platform to add support for Cardano-based native tokens.
Last month, Bitrue also announced a staking initiative with the ADA cryptocurrency. It decided to contribute a million tokens to some of the top Cardano staking pools in an effort to boost the level of decentralization.
Earlier this year, SundaeSwap (SUNDAE), the native token of the SundaeSwap exchange, also became available on Bitrue.
WingRiders Losses 59% Of Its Total Value Locked, Plunges Cardano TVL Below $100M
Popular Cardano-based decentralized exchange WingRiders has lost its position as the most valuable DEX on Cardano.
WingRiders slumped from the first position to third after losing more than 59% of the total value locked (TVL) on the platform in the past 30 days.
At the time of writing this line, WingRiders is now the third-largest DEX by total value locked, with a TVL of $19.66 million. It is noteworthy that WingRiders maintained the top spot for more than two months, claiming 42% of TVL On Cardano. However, the DEX has fallen from glory ever since.
Minswap Is Now Cardano’s Most Valuable DEX
The development also affected the total value locked on Cardano. The total value locked on Cardano has fallen below $100 million in the last 30 days after the WingRiders TVL slumped.
Interestingly, Minswap has taken the lead to become the most valuable decentralized exchange on Cardano after the massive decline of WingRiders’ TVL.
At press time, Minswap is leading, with a $49.09 million total value locked on the platform. The DEX hit the milestone after recording a massive growth of 30.9% in its TVL in the past 30 days. Minswap accounts for 51.82% of the total value locked on Cardano.
SundaeSwap, the first decentralized exchange on Cardano, is now the second most valuable DEX in the ecosystem. SundaeSwap is second in the ranking, with $19.72 million in TVL.
Like WingRiders, SundaeSwap has also lost a significant amount of its TVL over the past 30 days. In the past month, SundaeSwap has lost nearly 10% of the funds locked on the platform.
Commenting on the development, Cardano Daily, a platform that shares new developments about Cardano, said:
“After the major decline of @wingriderscom, the TVL scenario of the Cardano ecosystem has stabilized back to normal as we have seen in the past few weeks. @MinswapDEX still led the ecosystem with $51M TVL, contributing 50% of the ecosystem.”
CARDANO TVL STATUS
After the major decline of @wingriderscom, the TVL scenario of the @Cardano ecosystem has stabilized back to normal as we have seen in the past few weeks. @MinswapDEX still led the ecosystem with $51M TVL, contributing 50% of the ecosystem#tvl #cardano $ADA pic.twitter.com/xjZ6cHo8jX
— Cardano Daily (@cardano_daily) August 9, 2022
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