Cryptomeda plans to build on Cardano, aims to be the largest open marketplace
Cryptomeda is seeking Cardano (ADA) integration when Cardano’s smart contract capability, Goguen, is slated for release in Q3 2021. Through this integration, Cryptomeda seeks to be the main open NFT Marketplace on Cardano, the fourth-largest cryptocurrency by market capitalization to date.
Cardano describes its protocol as a “third-generation blockchain” designed with numerous functions, including running smart contracts, supply chain traceability, governance, security, and facilitating identity recognition.
Cardano is presented as a decentralized open-source platform for smart contracts, aiming to outperform competitors by providing more advanced functionality and design options. The blockchain protocol is designed in two layers where one, the settlement layer, handles all the transactions with Cardano cryptocurrency, and the other one, known as the computational layer, hosts the smart contracts. The protocol design aims to ensure better security, scalability, and compatibility of the blockchain, which fulfills Cryptomeda’s requirements in terms of blockchain operability.
While the technology behind Cardano is solid and its potential is undeniable, there are still some hurdles that need to be overcome before it can be deployed on a broader scale. Cryptomeda’s plans to integrate came about as Cardano creator, Charles Hoskinson, unveiled their plans to be one of the best NFT platforms during an interview. Hoskinson also mentioned the native capabilities built into Cardano from Catalyst to metadata standard and the handling of native multi-assets, would resolve a lot of the current problems faced.
Cryptomeda is a complete ecosystem based on NFTs, designed to revolutionize the traditional stressful crypto trading market. Constructing a gateway for the masses into the world of crypto assets. Cryptomeda will be building its NFT marketplace with the exciting and highly-anticipated new capabilities of Cardano’s upcoming Goguen era.
Through the integration with Cardano, Cryptomeda intends to be the best marketplace to issue, curate, and transfer NFTs from one party to another. Whilst providing users with an experience that can only be described as ‘enjoyable and seamless’ in the long run.
Cryptomeda is a complete in-game ecosystem based on Non Fungible Tokens (NFTs), complete with an open marketplace, NFT collectibles, gamification, staking, and much more. Cryptomeda aims to make the crypto world fun and easy for all levels of experience and is an entertainment platform that will provide users with a number of opportunities to earn NFT Collectibles, and trade them on the platform. The platform is backed by the native currency of Cryptomeda — TECH Tokens, which would enable all trade and commerce within the platform.