- Cardano (ADA-USD) is making moves with its Davinci’s Locker non-fungible token (NFT) marketplace.
- Improving transaction throughput speeds give ADA tailwinds as summer approaches.
- A research partnership should lead to the development of Cardano.
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Cardano (ADA-USD) has increased in price of late. That is always an encouraging sign in the fickle world of cryptocurrency. There are several reasons to believe it will move higher in the long term as well. Those reasons include an emerging NFT marketplace, increasing transaction throughput speeds and a research partnership that could lead to positive developments for Cardano.
Da Vinci’s Locker
Cardano now has multiple ways to benefit from non-fungible tokens (NFTs). It is launching Da Vinci’s Locker, a marketplace that will support the trading of NFTs across multiple blockchains. The platform is designed to become a competitor to OpenSea.
Right now, it is undergoing a private sale, which kicked off on April 5 with an initial coin offering (ICO). The reason this should interest investors is that it could raise prices in the run-up to the ICO. In order to participate in that ICO, investors have to first purchase ADA.
A single ADA token currently entitles an investor to 1,126 $DVL. If interest spikes before the ICO, which is scheduled in a few weeks, $DVL will appreciate in price. ADA should rise as well if that happens.
One of the more attractive selling points is that users can sell NFTs on the marketplace without middlemen, thus receiving 100% of the profits. In short, the NFT angle could evolve into something substantial moving forward.
Transaction Speeds With Cardano
Cardano is focused on increasing its transaction throughput in the wake of increased user activity following the introduction of smart contracts. IOHK, the company behind Cardano, expects that increase in activity to continue. As a result, transaction throughput must be increased.
Cardano…
