Vodafone partners with Cardano to launch NFT chain
TL;DR Vodafone, one of the world’s largest telecom companies, is officially coming to Cardano (ADA) with an NFT collection launch planned for later this year. The move is significant in several ways, as it brings mainstream attention and adoption to the Cardano network, demonstrates confidence from a major global company in Cardano’s technology, and could ultimately bode well for Cardano’s native cryptocurrency, ADA.
Notably, Vodafone’s German arm, Vodafone Deutschland, is preparing to launch a non-fungible token (NFT) collection on the Cardano blockchain, according to NFT infrastructure provider NMKR, which will facilitate the minting process.
On June 28, NMKR developer Patrick Tobler posted a screenshot from Vodafone Deutschland’s Slack chat, where the telecom giant outlined its NFT collection launch plan.
“Yes, we are planning to release an NFT collection this year, and we want to utilise the Cardano chain for this. The reason we chose this particular chain comes down to community, sustainability as well as cross-chain possibilities.” – a Vodafone Germany employee wrote in the company’s official Slack channel.
He added:
“We are still in the early stages of this project, so everyone who is here now is already a super early supporter, and we appreciate that.”
The rumors of a partnership emerged just a day earlier following a tweet by Vodafone Service, an official service Twitter account of Vodafone Deutschland.
What does this mean for Cardano?
Firstly, the move brings mainstream attention and adoption to the Cardano network, showcasing its capabilities and potential for hosting large-scale projects.
Secondly, it demonstrates confidence from a major global company in Cardano’s technology, which could attract more businesses and developers to build on the platform, further strengthening its ecosystem.
If such a scenario becomes a reality, it could ultimately bode well for Cardano’s native cryptocurrency, ADA, which currently trades at $0.28. ADA is primarily used for transactions, staking, and participating in the governance of the Cardano blockchain.
Vodafone is the seventh-largest telecommunications company in the world, with more than 353 million worldwide users, 30.81 million of which are served by Vodafone Deutschland in particular.
The largest telecom companies by user base. Source: YouTube