Popular Cardano NFT applications were one of the first drivers of growth and user adoption of the Cardano blockchain. As one of the biggest NFT and tokenization services in the Cardano ecosystem, NMKR has played a significant role in driving this adoption by onboarding businesses to leverage Cardano NFTs for real use cases and making it simple for users to tokenize all sorts of real-world and digital assets in the form of NFTs.
The Cardano blockchain network continues to technologically develop and evolve to onboard more users. NMKR as a service built on Cardano also continues to unveil new tokenization services and features to drive user growth.
In this blog, we’ll review some of NMKR’s plans to further increase Cardano NFT (CNFT) adoption in 2024.
To increase the profile of the Cardano blockchain and Web3 in general in Europe and also bring talented developers together, NMKR is planning to organize a developer hackathon in Berlin, Germany. The objective is to raise the visibility of the Cardano blockchain and how the open-source, distributed network is ideal as a technological platform for NFT products & services.
While the NFT sector within blockchain and Web3 starts to warm up again, hosting an event in Europe intends to draw more attention and onboard more users to Europe’s already growing Cardano community. The hackathon is also being planned as a full event with activities around the core competition.
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The Cardano Hackathon in Berlin will tentatively include the following:
- A two-day event with workshops, coding challenges, and networking.
- Access to Cardano development tools, APIs, and experts.
- Prizes and recognition for the most innovative Cardano-based projects.
- Collaboration opportunities with the Cardano community and ecosystem.
- Knowledge sharing and community-building.
The hackathon will be a major draw for Cardano and also NMKR, and bring many projects from Europe into a shared stage where a lot of innovation will be displayed for a wider audience.
NMKR is also preparing to build and unveil a new multifunctional launchpad platform, finest, in partnership with FluidTokens and IAMX.
Leveraging its know-how and experience in asset tokenization with business clients such as Tiamonds to tokenize physical diamonds, finest will allow businesses and users the ability to quickly mint compliant tokens of real-world assets.
The finest platform will be powered by the same API architecture that is behind all of NMKR’s products. It’ll lower the barriers for those looking to launch security tokens by providing:
- User-friendly asset onboarding and issuance
- Seamless integration with NMKR Studio for asset creation
- FluidTokens’ fractionalization capabilities for broader ownership
- IAMX’s secure identity verification for asset compliance
- Educational resources to guide users through the tokenization process
- A user-driven marketplace for trading real-world asset tokens
Via tokenizing real-world assets on finest, businesses and individuals can:
- Democratize asset tokenization, making it accessible to a wider audience
- Attract businesses, asset owners, and investors to Cardano
- Strengthen Cardano’s position as a leader in real-world asset tokenization
- Foster innovation by showcasing real-world use cases on Cardano
NMKR is also expanding its own RWA token minting capabilities. It’ll create a series of utilities inside its NMKR Studio toolkit that will allow developers and entrepreneurs the opportunity to quickly tokenize assets.
The plans include:
- Templatized minting implementation
- UI enhancement and redesign
- Fractionalization smart contract integration
All these upgrades will help to enhance the experience of tokenizing a real-world asset on Cardano.
NMKR is also working with FluidTokens and IAMX on an open-source Tokenization smart contract on Cardano. The smart contract will also be audited to comply with the Federal Financial Supervisory Authority (BaFin), Germany’s integrated financial regulatory authority. It’s designed to comply with the German Electronic Securities Act (eWpG) and broader EU regulations.
This will create an audited and EU-compliant tokenized asset that has:
- Legal recognition and trust
- Market expansion and adoption potential
- Increased developer engagement
- Increased investor confidence
This will help to ensure that any asset tokenized using this open-source code can be used in the EU’s financial market, giving developers, businesses, and investors more confidence to engage with tokenized assets within the EU jurisdiction.
Are you looking for more information on tokenization using blockchain technology?
EMURGO is partnered with NFT and Tokenization platform NMKR to drive adoption and awareness of the ease and valuable utility of asset tokenization, especially for businesses and creators.
Follow EMURGO on X to receive updates about the partnership and future events with NMKR.
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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.
