SpaceBudz, the project for the commercialization of NFT, begins to operate on the Cardano network – DiarioBitcoin

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SpaceBudz, the project for the commercialization of NFT, begins to operate on the Cardano network - DiarioBitcoin By Angel Di Matteo @shadowargel

Operations through SpaceBudz are done in a totally decentralized way through Nami Wallet, a wallet extension for browsers that works on Cardano.

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On October 10, the operating team of Berry Pool, the first group of Staking in the network of Cardano that worked through a Raspberry Pi, announced the launch of a digital collectibles market (NFT) called SpaceBudz.

This was announced by the team of SpaceBudz in a series of messages published through their official networks, where they indicate that it is a project for the commercialization of NFT based on the network Cardano, which has 10,000 digital copies in existence, all allusive to cartoon astronauts with unique designs.

In accordance with SpaceBudz, The advantage of this platform is that it works in a totally decentralized way, and that users will be able to do the whole process for the purchase / sale of the NFTs through Nami Wallet, a product also designed by the creators of the service, which works as an extension wallet for browsers that operates on the network of Cardano.

The NFT and the network of Cardano

The market for NFT It has undoubtedly surprised locals and strangers, since it became one of the most lucrative in the cryptocurrency sector, especially during 2021 by opening space for artists from all sectors to tokenize their works.

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As such, the network of Ethereum figure like him Blockchain where the largest commercial volume of NFT’s of the market, figuring OpenSea as the platform that capitalizes the largest amount of capital within the sector. However, high operating costs and congestion problems have led many projects to consider other possibilities to launch this type of business.

After the arrival of Alonzo, the network of Cardano formally enabled support for smart contracts in its Blockchain, which in turn brought with it the possibility of implementing a large number of use cases. One of them is the possibility of trading art pieces through non-fungible tokens, and in the case of SpaceBudz they are already operating directly on the network through the following smart contract:

In this sense, the process is done in a totally decentralized way and the offers are blocked in the contract until the operation is completed, but they can be canceled if it still does not receive a potential buyer.

Regarding the fees handled by SpaceBudz, leaving out the commissions charged by the network Cardano, the platform requests 2.4% for the commercial operation


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Source: CryptoGlobe, File

Version by Angel Di Matteo / DailyBitcoin

Picture of Unsplash

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