By EWN • 26 November 2022 • 11:15
Cardano (ADA), Ethereum (ETH), and Rocketize Token (JATO) are bringing a new meaning to NFTs in the cryptocurrency market.
The NFT market has a total market cap of over $11.3 billion and more than 2.4 million unique wallets are in use to facilitate transactions.
Hence, this is an extremely lucrative element of the crypto industry that investors rely on to make a healthy profit.
This is not through divine intervention. The purchase and selling of NFTs are one of the few things that crypto enthusiasts have control over.
And the variety of NFTs at their disposal is endless. It doesn’t matter if you want to own digital collectibles, concert tickets, avatars, or music, there really is a non-fungible token for everything.
However, NFTs are not all sunshine’s and rainbows. If you invest in the wrong token, you could lose a lot of money. Just ask Justin Bieber who bought a Bored Ape for $1.3 million and now his item has a value of around $69,000.
Furthermore, with new NFTs constantly being created, it’s no secret that excessive energy consumption is not good for the environment.
Regardless, Cardano, Ethereum, and Rocketize Token are here to make NFTs a more ethical, profitable, and fun proposition for investors.
Cardano is now the third most popular NFT protocol on the crypto market, reaching an NFT volume of 19 million when last reported in September.
Only behind Ethereum and Solana (SOL), Cardano’s new position is largely attributed to its recent Vasil update.
The upgrade has led to reduced transaction time, allowing investors to purchase NFTs more efficiently.
Not to mention, the launch of Plutus V2, a contract language that will make it easier for developers to build on the Cardano chain and introduce new groundbreaking NFTs into the market.
Cardano is not the only cryptocurrency making upgrades as Ethereum switched from a proof-of-work protocol to a proof-of-stake mechanism in September.
Ethereum’s upgrade means it uses 99.95% less energy than previously and produces a significantly lower carbon footprint.
This is good news for the crypto space on the whole as a large portion of NFTs are built on the Ethereum blockchain. Therefore, future and current NFTs that are built on Ethereum, will be less damaging to the environment.
For perspective, Bitcoin (BTC) uses a proof-of-work mechanism and uses 707 kilowatt-hours (kWh) of electricity for each transaction.
Unlike Cardano and Ethereum, Rocketize Token has not officially been released yet. Nevertheless, it proposes to allow investors to create new NFT tokens based on memes.
Rocketize Token’s community, Atomic Nation, has led to the creation of ROCKMint. ROCKMint utilises Web 3 dApp wallets to create and store NFT collectibles.
Then, those who are part of the community can upload their favourite memes and convert them into specialised collectable cards.
Thus, with Rocketize token, investors have a chance to use their creativity and bring their own concepts to life.
Cardano, Ethereum, and Rocketize Token have immense potential to change NFTs for the better.
Cardano’s Vasil update will make it easier to sell and buy NFTs, Ethereum’s proof-of-stake upgrade means NFTs will be more eco-friendly and Rocketize is set to revolutionise NFTs with custom-built meme-related tokens.
For more information about Rocketize Token:
Share this story
Subscribe to our Euro Weekly News alerts to get the latest stories into your inbox!
By signing up, you will create a Euro Weekly News account if you donâ€™t already have one. Review our
Download our media pack in either English or Spanish.