Cardano opened the gates to native asset minting in March of 2021, making it possible for many to create their own issuance, fungible or… the other kind, the one known colloquially by the three big letters, the acronym: NFTs.
Ethereum’s rollercoaster of multi-billion dollar tokens in 2021 showed us that we live in strange times. Out of thin air, billions of dollars of capitalisation, resting entirely on what amounted to hype, a vague idea of financial revolution, and branding.
Why then would Cardano, a network hoping to improve on the what came before it, need its own version of the hyped, vaguely conceptualised, brand-heavy token mania?
The truth is that it doesn’t. At least not a carbon-copy of the same.
There is however value hidden beyond the surface:
A strongly branded, fun and recognisable token can bring new users to the space, encouraging discovery and learning.
Cardamun, an on-ramp to Cardano
Some that would otherwise feel apprehensive about getting involved with serious cryptocurrencies, might instead get their feet wet with tokens and NFTs, enticed by their care-free nature.
There are however challenges. It’s not yet possible to send tokens on the Cardano network without paying for transaction fees in its ADA native currency (similar to gas on Ethereum). There are plans to change this, and if successful, Cardano would be first-to-market with this capability.
A purely token-based experience might have to come later, but as with anything in the crypto space, just because something is not fulfilled immediately, it doesn’t mean that you shouldn’t be paying close attention.
In the short term
For now, Cardamun is in its infancy, focusing on community and distribution, making it possible for Cardano holders to obtain a sizeable chunk of MUN.
The team is also working on its first NFT collection. Owners of any of the dessert themed pieces in the collection will receive bonus MUN tokens, air-dropped directly to their wallets.
Another short term goal is availability on Cardano decentralised exchanges, many of which are launching in the first half of 2022.
There are also plans for a learn & earn type of system which will reward users with MUN tokens.
Learn more about Cardamun by visiting the official website, or by joining the growing Discord community.
