Cardano Network’s AdaSwap has launched an NFT marketplace that promises to disrupt the NFT market. The NFT marketplace is called “Dubbed “ADANFT”The marketplace will establish a voting system as well as a tier structure. These will bring more value to NFT artists as well as buyers. The resultant value will also likely drive more traffic to ADANFT’s marketplace.
ADANFT is essentially a market-based initiative that addresses the NFT segment’s quality issues and inefficiencies. Poor curation can be seen at numerous NFT minting sites as well as marketplaces. ADANFT Voting will allow users the opportunity to vote only on their favorite NFT items. Based on the votes, moderators will choose the items to be part of a collection drop. It will ensure only the best quality and original items are included in drop.
The tiered structure on the other hand will create a value ladder for items that are sold on the ADANFT market. This tier system will feature the highest-quality NFTs. There will be three levels: Silver, Gold and Platinum. The number of $ASW tokens a user has will determine which tier they fall into. In the near future, voting and user activity will be included in the tier system.
AdaSwap CEO Lennon Qualmann said, “We are aiming to change the way NFTs interact with traditional finance protocols as well as changing the way NFTs are traded by bringing forward new and exciting ideas”. The token is likely get more exposure and greater demand, as the $ASW token will be powering the ADANFT market. This could boost its value.
AdaSwap operates on the Cardano ecosystem as a decentralized ecosystem creator. It aims to build Cardano’s first DEX, which will support trading in Cardano-native tokens support swapping liquidity pool creation and staking.