According to recent data shared by IOHK, the number of local assets issued on Cardano has grown to 4.8 million.
On March 23, Morgan Scofield, Head of Ecosystem Growth at Input Output HK, reported that Cardano’s smart contract platform holds four million non-fungible tokens (NFTs), adding that “the 4,000,000th Cardano NFT is being mined, with There are 50,000 different mining policies.”
Charles Hoskinson was quoted as saying in this tweet, “Remember when I predicted thousands of assets and DApps on Cardano? OK, I was wrong. There are now millions of native assets issued and DApps now in hundreds of Slow & Steady Huh.”
This difference indicates that more than 800,000 local assets have been issued since Morgan Scofield’s tweet on March 23.
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The Cardano blockchain can natively generate custom tokens (or “assets”), interact with and delete them. “Native” indicates that users can interact with these custom assets directly out of the box, without employing smart contracts.
Cardano NFT is similar to the original asset from a technical point of view. However, a core asset can be a Cardano NFT if it has other assets such as amount or value, name and a unique policy ID. NFTs can be produced using Cardano nodes and are, thus, native assets. However, unlike convertible native assets, which may consist of millions of exchangeable tokens, NFTs are a single native asset that cannot be memorized or destroyed, and that exists on the blockchain forever.
Increasing number of NFT projects
In the past week, IOHK reported the total number of NFT projects on the Cardano network to be 5,549. Currently, this number has increased to 5,656, representing an increase of 107 projects. The increase in the number of mined pieces of non-fungible art and projects is associated with the development of the Cardano network.
As previously reported by U.Today, Cardano NFT sales reached $27 million in April. ADA was trading down 1.64% at $0.52 at the time of publication.
