The EMURGO and NMKR partnership was one of the biggest announcements from Cardano Summit 2023, which brought together two of the most well-known figures in the Cardano blockchain ecosystem.
EMURGO’s vision is to facilitate commercial growth of the Cardano ecosystem through dynamic partnerships, investments, education, and infrastructure development. NMKR has amassed a large following in the Cardano ecosystem through its mission to enable brands and users to easily issue NFTs and adopt Real-World Asset Tokenization on Cardano.
In this blog, we’ll dive further into NMKR, its capabilities, and how brands and businesses can maximize their mainstream commercial impact by using NMKR’s platform for NFTs and asset tokenization.
NMKR is an NFT and Tokenization service on Cardano that aims to bring Web3 to the masses through its simplicity. It’s an easy-to-use application geared toward artists, brands, and web developers to allow them to create and sell Tokens or NFTs with as little friction as possible.
The platform uses an API architecture for its technical foundation. Anyone can use the API to mint Tokens or NFTs without requiring technical knowledge or any complex blockchain logic. It aims to be a user-friendly minimum code solution that broadens NFT adoption and brings more businesses and individual users into Cardano.
The current stats of NMKR are very impressive:
- 2,200,000 tokens minted
- Over 30k projects created
- 65,000,000 USD in transaction volume
This makes NMKR one of the biggest decentralized applications and services on Cardano and a major player in the blockchain industry. It still has a lot more room for growth and is preparing to unveil some major products in the future to accelerate Cardano NFT and asset tokenization adoption.
NMKR already offers a very complete and simple toolkit to issue NFTs. Let’s go over some of the products NMKR currently offers, and discuss their utility, and benefits for those looking to start getting into NFTs.
NMKR Studio is a platform for businesses & creators to launch & manage their own NFT & Tokenization projects. Examples include:
- Loyalty and reward items
- Proof of authenticity for music, artwork, and other digital content
- Inventory tracking
Businesses can issue NFTs for the reasons above, generate new revenue streams, and reach a new group of users interested in Web3.
The platform makes creating NFTs easy by enabling the uploading of images, configuring metadata, providing a payment option, and whitelisting wallet addresses.
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The NMKR Studio API (Application Programming Interface) is a tool that integrates the functionalities of the NMKR Studio into web pages created by third parties. The API uses the HTTP Get and Post Requests and invokes NMKR’s Server-Side code to run the minting logic.
The API brings all the power of NMKR Studio to the websites of those creating a project. All the tools created for NMKR Studio are then provided for the site of the project via the API. This allows for the seamless integration of Tokens and NFTs into any project without the need to have blockchain-specific developers on staff.
Another tool NMKR offers is a fiat payment solution to purchase NFTs. Most people don’t have a cryptocurrency readily available when looking to make a purchase. This adds the hassle of having to access and create an account with a crypto exchange, deposit money, and turn it into a cryptocurrency. After, they would have to go back to the site that sells the NFTs and finally make the payment.
All these steps are streamlined with NMKR Pay, as it allows for direct fiat payments. In this way, the user can use their normal payment method and instantly buy the NFT from other users or brands. The steps are just reduced to a single one and the sale of NFTs is expedited.
NMKR also provides the ability to set up royalty payments on NFT resales and can also be integrated with Airdrops, Holder Management & Secondary Sales API.
Creators of the NFT collection can set up a payment wallet address where an amount of the resale price is deposited every time an NFT in the collection changes hands.
This can give a continuous revenue stream for a longer period. The money can be substantial when an NFT collection becomes popular and resales happen frequently. Another way projects can complement their income sources.
This has immense potential for individual creators and businesses with popular intellectual property they would like to tokenize.
On top of NMKR Studio as the underlying infrastructure, NMKR is currently building a Real-World Asset Tokenization Launchpad called finest.
This platform will allow users to easily invest in previously high-entry barrier asset classes like real estate, high-value art, and more.
The NMKR platform is a complete suite of tools for those looking to enter the NFT & Tokenization market. After describing all the things it has to offer, it’s very easy to see how NMKR can fit in any strategy by a brand new to the blockchain space.
The great thing about NMKR is that it provides all the code to mint, make payments, and set up royalties for NFTs in an API form. Brands don’t need to give up control over the visuals of the product as NMKR integrates seamlessly in the background without having to get blockchain developers.
The brand creators can focus on the feel, look, and utility of the NFT & Token collections allowing NMKR to run in the background without any worries. This makes NMKR one of the most versatile solutions for the NFT & Tokenization ecosystem on Cardano.
Are you an EMURGO and NMKR follower?
Interested in keeping up-to-date with the latest from EMURGO’s partnership with NMKR?
Then, follow EMURGO on X to receive updates about the partnership and future initiatives with NMKR to drive Cardano NFT usage for asset tokenization.
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You should not construe any such information or other material as legal, tax, investment, financial, or other advice. Nothing contained herein shall constitute a solicitation, recommendation, endorsement, or offer by EMURGO to invest.