Djed’s New Use Case Spotlight: NMKR

Cardano might be a relative newcomer to the NFT scene, but ever since the blockchain upgraded to allow the minting of non-fungible tokens, a vibrant community has popped up around the emerging technology. In fact, Cardano NFT’s or CNFT’s, now represent the third largest NFT protocol by trading volume, sitting at 677 million ADA (US$268 million) and counting.

To meet the growing demand for CNFT’s, NMKR (previously known as NFT Maker), launched their minting platform in 2021. They offered professional minting services before expanding into selling bespoke NFT marketplaces and enterprise products.

With the introduction of DJED into the Cardano ecosystem, NMKR was quick to integrate the overcollateralized stablecoin into their services. This gives NMKR users a layer of protection against fluctuating market prices when minting and trading NFT’s.

We asked Victor Duran, from the NMKR team several questions about the implementation, and this is what he had to say:

Please tell us a bit about NMKR:

NMKR is an NFT Creation, Minting & Trading Infrastructure provider on the Cardano blockchain, offering a suite of tools that help brands, companies and enterprises to launch Whitelabel custom Cardano NFT projects.

The largest NFT infrastructure provider on the Cardano blockchain, NMKR is responsible for minting over 1.6 million NFTs to date. NMKR has launched NFTs with celebrities such as Martin Lawrence and all three founding entities of the Cardano Blockchain: IOHK (IOG), Emurgo and the Cardano Foundation.

NMKR aims to make NFTs accessible to everyone. Soon we will have Custom Marketplaces that are available to everyone. This will allow anyone to set up a custom front page directly from NMKR Studio, complete with custom branding, custom rules and fees. This will ultimately create a large ecosystem of niche marketplaces, from fashion, music, films, gaming and beyond, all powered by NMKR.

What does the implementation of DJED and SHEN allow?

The Implementation of DJED and SHEN allows users to purchase and accept these tokens for NFTs, making NFTs more accessible to everyone. More importantly, the Overcollateralized stablecoin, DJED, helps to shield both buyers and sellers from the volatility of the crypto market. Sellers can list an NFT for sale in DJED, and not have to adjust prices when the price of ADA changes. Likewise, buyers can have certainty over the price of the asset they are purchasing.

Additionally, a new beta NMKR feature allows NFTs to be minted from Cardano native custom tokens including DJED.

What impact do you expect DJED and SHEN will have on the platform?

DJED and SHEN will allow NMKR and its users to onboard more customers who wish to transact in a stable environment, ultimately pushing NMKR and NFTs towards mass adoption.

This implementation, among others, will help grow the adoption of Djed throughout the entire Cardano ecosystem. Stay tuned for more updates.

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