Cardano developers have found feasible ways minting and selling NFT collectibles, even without smart contract functionality.
In order to mint bootleg nonfungible tokens, despite not having functional smart contracts on the layer one, Cardano developers have recently hacked together methods of minting bootleg nonfungible. With pre ERC-721 statndard on Ethereum, the experiment is hosting the distinctive data on the blockchain. and, what’s more, so far they’ve proven to be enormously popular with token drops routinely selling out.
Two NFT images have been shown to have bee minted on the chain, by ADA Technology Management (ATM) on Reddit, a staking pool operator for Cardano. And Cardano has promised to give NFT minting services to pool regulators.
The so-called NFTs come with a number of caveats, however. Because Cardano doesn’t yet support smart contracts or have a NFT token standard, in order to create a NFT users mint a native token one-of-one native token.
“Tokens on Cardano are native and are on the same level as ADA. Instead of smart contracts, so called “minting policies” control the flow of a certain token group. NFTs are basically tokens on Cardano with a quantity of 1,” explained Alessandro, the self-described “brains” behind SpaceBudz, a Cardano-native collectibles project and the author of a Cardano Improvement Proposal to establish a Cardano NFT metadata standard.