Cardano NFTs touted as next gold rush after ‘Ford Edwards’ sells for $65,000
Twitter user @ShiLLin_ViLLian posted details of a Cardano NFT that sold for 180,000 ADA, or $64,300 at today’s price.
This Cardano NFT sold for 180,000 ADA pic.twitter.com/9u449BL2sV
— Alex❓ (@ShiLLin_ViLLian) 18 October 2022
“Ford Edwards” belongs to The Ape Society Collection, recently launched by anonymous developers Cardman, Kongo and Matasa.
The owner’s husband posted a video of the sale, including his reaction when an error prevented confirmation of the sale. After discovering the problem, a representative from jpg. store said engineers will “squeeze the bug.”
So this was me selling my wife’s NFT, King Ford Edwards for 180,000 $ADA
@apesamfunnetis the top #NFT project on #Cardano
Watch to the end to see my reaction when I thought I accepted the wrong offer, I was so nervous 👊🏻
@kpetric2017 pic.twitter.com/Y2Y2eqUTeK
— [email protected] (@PetricVince) 19 October 2022
The Monkey Society
Inspired by Ethereum’s Bored Ape Yacht Club, The Ape Society also intends to develop a community via holder access to “unique benefits, events and more”, including rights in the community-driven Decentralized Autonomous Organization (DAO).
“The Ape Society is a collection of 7,000 unique NFTs generated on the Cardano blockchain. Claim a monkey by minting or buying through a secondary marketplace and stake your place in our exclusive community.”
Each Ape Society NFT is derived from a “design-generated” set of traits. The 13 attribute categories include hat, ears, weapon, and class.
The class feature is an integral part of the collection’s background story, which describes a fictional story set “a long time ago” in a world of “unrefined, barbaric apes”. In this chaotic world, a monkey called Giambuono de’ Medici wanted unity and cooperation among monkeys.
“He divided the retinue into 7 classes – nobles, royal advisors, military officers, merchants, explorers, artists and craftsmen – each of which was necessary for society to survive and prosper.”
Ape Society is available for purchase on Cardano’s secondary NFT marketplace jpg.store. Per the site’s landing page, the minimum price for the collection is currently 8,250 ADA ($2,600).
Is Cardano the next NFT gold rush?
NFT collector @FFVV1211 recently commented that he missed the Solana NFT pump. He added that Cardano NFTs are now pumping and he does not want to repeat that mistake.
They told me to stay away from SOL NFTs when SOL NFTs and the community pumped, I listened and missed some great plays
The same thing is happening now with Cardano NFTs.. don’t make that mistake again😂
— FFV🎃 (@FFVV1211) 18 October 2022
Similarly, @HommiesDrey talked about an NFT paradigm shift moving along different blockchains over time. He believes Cardano will benefit from a shift from Solana.
The reason you lose money in NFTs is because your chain is biased.
You don’t follow d paradigm shifter. ETH has already minted all its top projects, Sol is facing decline just blanket r comes in Cardano is d current hot cake of NFTs, d next will b Polygon. pic.twitter.com/D8dFzaMHsv
— #NFT Guru (@HommiesDrey) 19 October 2022
Data from opencnft.io showed no discernible pattern with Cardano NFT volume. The market peak of 3.7 million ADA was achieved on June 7th, leading to a sharp decline that bottomed out at 366k ADA on September 13th.
Since then, volume has been on the rise, but a noticeable increase occurred on October 17th, possibly signaling the start of the Cardano NFT paradigm shift @HommiesDrey referred to.
