It’s official: Vodafone plans to launch an NFT collection on the Cardano blockchain within the year, as also seen on Twitter.
The idea, as stated on the phone service’s official page, is still in the planning stage, but the intention is now certain. Let’s see below all the information about it.
Vodafone: “We will launch NFT on Cardano because it is a sustainable, cross-chain blockchain.”
A few days ago, a tweet from the official account of Vodafone Germany, one of the world’s leading telecommunications companies, had already alluded to the Cardano blockchain and its non-fungible tokens (NFTs).
Patrick Tobler, founder of the Cardano NFT NMKR project, retweeted the enigmatic message, sparking great interest within the Cardano community.
Specifically, Tobler’s tweets suggested the possibility that Vodafone was considering the creation of NFTs using NMKR, although they still left most interpretations to speculation.
However, as anticipated, the news now appears to be official: Vodafone will launch NFTs on Cardano. In fact, one of Tobler’s latest tweets states the following:
On Vodafone’s official page, the following is stated:
“Yes, we plan to release an NFT collection this year and we want to use the Cardano blockchain for that. The reason we chose this particular blockchain is due to its sustainability and cross-chain capability. We are still in the early stages of this project. so whoever is here now is already a super early supporter and we appreciate that.”
How will Vodafone’s NFTs be designed?
Based on what we learn from Vodafone Germany’s official page, their focus seems to be on creating NFTs that offer real benefits and utilities to Vodafone customers.
However, since we are talking about Vodafone Germany in this case, these direct benefits will only be available to German customers at the moment.
Regardless, the company reassures that it is exploring options on how to engage all members of its international community:
“Transparency about our intentions and capabilities is important to us.”
In addition, Vodafone is currently evaluating various utilities to associate with its NFTs. We emphasize that as a large company, multiple departments are involved in these decisions, so things take time to finalize:
“We want to do things right, both for our community and for ourselves. We have no intention of appointing privileged roles to early enrollees, as we do not want to foster an exclusive mindset. However, we’d like to reward our early supporters by reserving a reward for the first 1,000 Discord members.”
In any case, Vodafone’s goal is to make this project as inclusive as possible. Finally, although they are still working to define the utilities that NFTs will provide, they already have a list of benefits to build on and are also interested in knowing the community’s expectations and what it would like to see.
Cardano (ADA) endures in market uncertainties: Benjamin Cowen’s view
Recently, Benjamin Cowen, CEO and founder of ITC Crypto, highlighted the extraordinary performance of Cardano (ADA) in the prevailing bear market for cryptocurrencies, emphasizing its potential for both investors and users.
Through Twitter, Cowen shared an in-depth analysis, comparing ADA’s current performance with its past trajectory and offering practical implications.
His findings revealed a fascinating result: the resilience of Cardano in the current bear market outperforms its performance during the bearish period between 2018 and 2020.
To highlight this, Cowen presented a graph illustrating ADA’s return on investment (ROI), highlighting two distinct trends.
Specifically, the graph showed a blue line representing the bearish market from January 2018 to March 2020, while the orange line represented the ongoing bearish market that began in September 2021.
Notably, the orange line showed decreasing losses over time, indicating a slower rate of decline for the ADA price in this cycle than in the previous one.
Based on these observations, projections indicate that the current cycle may have a less severe impact on the ADA price, with the orange line expected to reach the same length as the blue line by 13 November 2023.
This analysis suggests greater market resilience and a positive outlook for the performance of ADA in a bearish market. In addition, despite a slight decline in ADA prices over the past 24 hours, a broader analysis reveals a bullish trend over the past week, up nearly 10%.