Growth is integral to any business that provides products & services to users.
It also holds true for blockchain ecosystems which are experiencing a rapid uptick in dApp usage and development.
In the case of Cardano, its network is geared for a transition to a fully community-governed blockchain. Thus, its ecosystem needs to have internal engines of growth that can sustain and expand the number of products & services leveraging its technology.
This is where NMKR, an NFT and tokenization service using the Cardano blockchain, and their Launchpad service can play an important role in helping to drive ecosystem expansion.
Let’s discuss further below.
NMKR is one of the biggest NFT creation services on Cardano. Since launching in 2021, it has allowed companies and creators to mint NFTs of desired items such as diamonds, e-books, and more. By issuing NFTs of physical and digital items, they can be freely traded on a global scale, re-sold at a later date, prove item authenticity, and provide greater item transparency to users, among other benefits.
Its selling point lies in its ability to remove the high technical barrier to blockchain and NFTs as their core services do not require any coding. NMKR offers a complete set of technical tools including NMKR Studio that allow anyone or any business to mint NFTs, launch collections, customize token metadata, and sell NFTs with no blockchain background required.
Related reading:
- NMKR and Tiamonds partner to tokenize physical diamonds
- How NMKR helps businesses maximize their brand impact
- Explaining NFTs
To date, more than two million NFTs have been minted using the NMKR platform, and are consistently found among the top 10 most used dApps in the ecosystem.
Moving forward, the NMKR Studio tool is continuing to evolve and will be expanded into a full launchpad.
User expansion is needed to sustain and grow any dApp and its blockchain ecosystem.
Over time, a blockchain network requires more active users to collect transaction fees, increase traffic and trading volume, and more.
It’s part of a feedback loop where bigger and better dApps drive user growth which in turn, drives blockchain network fees and usage, encouraging more developers to build on that blockchain.
While most of the growth in NFTs and blockchain to a greater degree thus far, has been driven by individual users, onboarding businesses can exponentially grow an ecosystem moving forward.
Yet, businesses interested in the NFT space still need to overcome significant barriers due to the complex technical requirements and strategic nuances of launching successful NFT services.
To help them, NMKR is enhancing its Studio platform with a dedicated Business Onboarding Program and a robust NFT Launchpad:
- Guided Onboarding: Step-by-step support from concept through execution, ensuring businesses understand and can effectively use NMKR’s tools.
- Launchpad Capabilities: A platform that facilitates the entire lifecycle of NFT projects, from pre-launch marketing to post-launch analysis, all integrated within NMKR Studio.
The expanded NMKR Studio will become a one-stop shop for the entire NFT development cycle, enabling businesses to quickly ideate and launch NFT collections from a single interface without specialized knowledge.
NMKR’s Launchpad aims to become a new growth engine for Cardano by creating a usable platform that can bridge the gap between NFT technology and business needs.
If adopted, more NFT projects utilizing the Launchpad could bring more fees to the Cardano network and grow its treasury. Also, the increased transaction volume will expand the overall use of the network.
Once brands adopt and successfully launch popular NFT collections via the NMKR Launchpad, this could have a virtuous network effect and bring new users to explore the Launchpad and other related Cardano dApps such as NFT marketplaces, and lending services.
As a result, Cardano at the network and the dApp levels can significantly benefit from the adoption of growth engines such as NMKR’s platform.
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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.
