A SpaceBudz NFT just joined the million-dollar club – a first on the Cardano Blockchain! SpaceBud #9936 had been sold for 510,000 ADA. Applying ADA’s price as of press time, $2.21, the NFT pulled in around $1.1 MIllion.
This NFT Sale is a significant milestone for the network because it just launched smart contract capability last month through the highly anticipated Alonzo Hardfork. Additionally, this sparks discussions about whether Cardano can really live up to its moniker of being the “Ethereum Killer.”
SpaceBudz x Cardano
SpaceBudz is undoubtedly one of the top Collections on Cardano today. Since its launch last March, the project has made over $7 Million worth of ADA. Similar to the concept of CryptoPunks, Spacebudz has 10,000 tokens, each with different characteristics. The team decided to do a stealth launch but it quickly gained traction and notoriety in the community due to its high standards and outstanding execution.
The team casually explained why they decided to go with the current aesthetics of the project. “To find the ideal collectible, we took a few things that we loved, blended them together and well.. out of the mix came cute astronaut animals on the Cardano blockchain.”
Every Bud has a unique set of race, background, objects and other rarities. Some of them can be very rare, and some are more common. For example, SpaceBud #9936 sports a Wool Bots and an Ax.
Of course, it is still too early to tell how things will unfold but seeing how SpaceBudZ managed to close a million-dollar sale two days after listing on the CNFT Marketplace, the potential to moon is immense.
How’s Cardano’s Traction So Far?
Cardano has a lot of catching up to do, not just because Ethereum launched first and had successfully positioned itself as the go-to network for NFT and DeFi Projects. The bigger reason is that prior to the roll-out of the Alonzo mainnet, the testnet attracted some criticism. For example, the first Cardano dApp, a multipool exchange named Minswap, shut down shortly after launch. The blockchain struggled to process multiple transactions at once, which defeats the purpose of DeFi.
This is a major blow to the network because, since 2015, it has taken pride in rigorous technical research and testing. Upgrades to the protocol are peer-reviewed by a pool of academics. So it’s not surprising that the community has high expectations for the blockchain.
So the million-dollar SpaceBudZ sale means a lot to the network because it affirms that it is back on track. We’ll surely hear more from Cardano because other Collectibles are also gaining ground. CardanoTrees NFTs offer a unique utility for NFT holders; they actually grow and change as you own them. Each tree is linked to a specific part of the real world and they grow, shed their leaves, fruit and shrink in tandem with their location’s season and weather patterns.
The news about the Alonzo hard fork catapulted its native token ADA to an all-time high of $3.09 earlier this month. Since then, the prize has stabilized and circled around $2. With a market cap of close to $80 Billion, ADA is firmly planted as the top 3 biggest cryptocurrencies, according to CoinMarketCap. Now the big question is: will other NFT Collectibles perform as well as SpaceBudZ?