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    Gate.io Blog JPG store;now the largest NFT marketplace on Cardano

    JPG store;now the largest NFT marketplace on Cardano

    11 October 12:23

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    [TL;DR]



    • JPG store is now the most used marketplace in the Cardano NFT community, outranking CNFT.io.

    • JPG store allows users to create, discover artwork, support creators and join communities on the Cardano blockchain.

    • According to the openCNFT.io market overview, JPG stores have handled 93.89% of CNFT shares in the past 24 hours and about 93.66% in the past seven days. Compared to CNFT.io, the largest marketplace until recently, sitting at 0.36% and 0.32%, respectively.

    • JPG Store has distinguished itself from most other marketplaces by taking the initiative to engage with significant projects in the space.

    • As the #1 marketplace on Cardano, JPG Store strives to innovate and integrate the newest technologies/projects, advancing the ecosystem and helping Cardano realize its full potential.

    • Investors are bullish about the Cardano ecosystem.

    • JPG store says there is more to come


    What is JPG Store?


    Source: jpg.store


    JPG store is a marketplace for Cardano NFT collections that allows users to create, discover artwork, support creators and join communities on the blockchain network. On the JPG store, users can buy and sell Cardano NFTs, make offers, customize their profiles, and much more. One of the uniqueness of jpg.store is their emphasis on a seamless user experience and functionality.


    Top collections on the JPG Store include PaviaClay, Nation, Spacebudz, and Chilled Kongz, among others. Transactions on JPG stores are made with the native token of the Cardano network, ADA.



    JPG store is Cardano's largest NFT marketplace

    With statistics to back it up, the JPG store has surpassed CNFT.io to become the most popular marketplace in the Cardano NFT community. Mid-this year, the store witnessed a spike in trading volume and has maintained its height since then.

    According to the openCNFT.io market overview, JPG.store is handling 93.89% of CNFT shares in the past 24 hours and about 93.66% in the past seven days. Compared to CNFT.io, the largest marketplace until recently, they are sitting at 0.36% and 0.32%, respectively.

    source: opencnft.io


    By the total number of transactions, JPG stores currently rank as the highest, with about 6.1 million transactions, which is more than 12 times the next-most popular Cardano NFT marketplace.

    source: Dappsoncardano


    JPG Store is proud to acknowledge and declare its status as the topmost NFT marketplace for Cardano. According to their website:

    We are the largest Cardano NFT marketplace. Find and discover upcoming NFT drops, and buy & sell your favorite NFTs and collectibles with just a few clicks. No escrow or delays; just connect your wallet and buy with our smart contracts”



    Unique features of the JPG Store

    JPG Store offers a seamless NFT experience to both creators and collectors by taking advantage of Cardano's highly scalable, low-latency network. Some of the JPG store's features that set them apart include:


    1. User-friendly Interface

    JPG store offers an easily navigable and user-friendly Cardano NFT marketplace for beginners. Investors and fans can swiftly purchase Cardano NFTs using their ready web3 wallets.


    2.NFT Launchpad

    JPG Store has a Launchpad feature to assist creators, designers, and artists to mint artwork and contribute to the Cardano community. The launchpad supports projects through identity verification, mentorship, social media engagement, and scam prevention tips after registration.



    3. Royalties for Creators

    The JPG store smart contract also promotes royalties, so NFT creators and artists are funded for their work.


    4. Technical Transparency

    The smart contracts for this marketplace are open-sourced and can be found on GitHub. There is no escrow or third party to hold money during transactions; smart contracts allow prompt selling and receiving of assets.


    5. Revenue to Support Environmental-related projects

    JPG Store donates one percent of its total revenue to fund environmental-related projects which strongly impact society.


    A Great Turnaround for Cardano

    JPG stores aim to make the best experience possible for users and artists. They are committed to being the most innovative NFT marketplace on Cardano, and according to them, these are only a few of the exciting features on their plan; there is still more to come.


    They are bent on innovating and integrating the newest technologies/projects on Cardano, which might be a massive turnaround for the Cardano project in the cryptocurrency market. A recent upgrade on the marketplace is the Plutus V2 which allows for a smaller transaction size; hence it results in a 50% decrease in transaction fees.



    Bottom Line

    Though Cardano marketplaces are small in scale and less common compared to the NFT marketplaces built on Ethereum or Solana, with further advancement and innovations, JPG stores may contribute to the expansion of Cardano, NFT, and the network's general humanitarian vision.




    Author: M. Olatunji, Gate.io Researcher

    Disclaimer:

    * This article represents only the views of the observers and does not constitute any investment suggestions.

    *Gate.io reserves all rights to this article. Reposting of the article will be permitted provided Gate.io is referenced. In all other cases, legal action will be taken due to copyright infringement.


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