The Cardano blockchain also offers price stability and predictability in NFT creations and transfer. According to Cardano price prediction, the development of this bridge is the first step, and it will enable creators of NFTs to move their creation from the energy-consuming Ethereum to the energy-efficient Cardano platform. The blockchain engineering experts at IO Global and Bondly, who also developed the Cardano blockchain, have aimed to decrease the energy consumption in NFT transactions. The cross-chain bridge from Ethereum to Cardano will ensure this. The bridge might be ready for use by 2022.
To get a comparative value, consider this: if the energy consumption of Bitcoin and Ethereum is equivalent to that of Oman and Columbia, then the consumption of Cardano is just about what a family uses. With the price stability and predictability of Cardano, NFT creators can transfer or mint their creations with minimum risk of loss or volatility.
CEO, IO Global Speaks
Charles Hoskinson, the CEO of IO Global, said that the partnership with Bondly is crucial for the long-term goal of energy conservation as the bridge will allow NFT creators to create tokens without environmental impact. Such bridges also enable seamless and inter-operability, which will lead to mass adoption by end-users. IO Global is a product engineering company that builds blockchain products for corporations, institutions, and governments. It is into R&D and committed to upskilling people to ensure the problems faced by their respective countries are resolved. IO Global’s core beliefs are privacy, decentralization, economic identity, and financial empowerment for everyone, and it is opposed to bureaucracy and centralized control.
The BONDLY Perspective
Bondly is invested in the development of new technologies to make blockchain utilization more decentralized. It intends to make NFTs and cryptocurrencies safer and more efficient. Bondly is an end-to-end NFT platform that executes every minute step in the process of bringing authentic digital goods to the market in gaming, collectibles, music, and entertainment. Animoca Brands has acquired a stake of majority in Bondly and is planning to integrate the blockchain technology of Bondly, its NFT bridge, and launchpad into its game products. Bondly is producing a new series of eco-friendly NFTs to celebrate its alliance with Cardano. CEO Harry Liu opines that the much-awaited ‘third generation’ networks would soon be a reality with this bridge. He adds that Bondly plays a pivotal role in the development of the next phase of NFT infrastructure.