Cardano and ERGO NFT trade volume is still within its infancy, yet at peak we have seen volumes circa of 1,200,000 ADA in a single day on platforms. Not including P2P transactions or other trading methods.The marketplace platforms are also in their infancy. Learning from the new demands and expectations, finding what works and what doesn’t work. Making mistakes and making advances.
During this early period, we have performed market research to gain a clear understanding of what is required to serve the community that drives it. But that research has only shown the current environment demands. We needed to take an outside-in perspective to creatively design our systems to provide future-proof value to our current community, and our future community. A moment to step back and discuss what NonFungible Tokens (NFTs) mean for the world in the coming years. The future of NFTs has many real-world utilities, breaking down walls, decentralising markets, and redefining how we trade ownership. We need a platform not only for the current NFT exchange requirements, but for the future exchange of non-fungible data and value. We aim to be that platform.
The success of Cardano & ERGO has been hugely due to the research-based, best practice approach, but the IOHK team has also focused on solving real world problems with their technology. We have taken the same approach, designing our infrastructure to support explosive growth with elastic (serverless) nodes, structuring datasets in a flexible method to support future assets, integrating our technology with market leading blockchains and aiming to decentralise our development governance to the community – All while focusing on transparency with information, value and opensource code. This will allow us to evolve the platform to become the future exchange of data within nonfungible tokens. Allowing smart contract agreements to handle the secure, decentralised trade of digital and real-world assets, putting the focus back onto trade, removing unneeded middlemen, reducing fees, time and increasing security.
First, we will be focusing on a future proof infrastructure, database design and API with a user friendly & fast frontend, matched with community required features for our minimum viable product.