Cardano Smart Contracts were launched a few hours ago, and the developers are now minting NFT tokens as well. Yes, you read that correctly! New NFT tokens were created immediately following the launch using the Plutus script token factory. Using the factory, a developer created three NFTs named Kevin, Charles, and Tim.
NFTs were minted in the blocks 6236229, 6236236, and 6236348 shortly after the launch of smart contracts. The developer also praised the Cardano team’s efforts over the last four years to bring about a significant revolution in the crypto space. The smart contracts written in Haskel would undoubtedly be difficult to find widespread adoption, but a gradual but steady increase may be on the way.
How Might This Affect the Price of Cardano (ADA)?
These NFTs are currently the first Plutus code to run on mainnet and thus have the potential to be a boon to the Cardano community. With NFTs making their way onto the Cardano blockchain, the ADA price could skyrocket. As of now, NFTs are booming in the same way that DeFis did in 2020.
Cardano’s price had risen by more than 16 percent over the weekend, but following a pullback, the price appears to have lost its gains. However, the price is holding at strong support levels and attempting to rebound with a large margin. And, given the current wave of positive sentiment toward NFTs, the price could rise significantly.