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HomeCrypto NewsCardano's Charles Hoskinson Says 'NFTs Are Not Just Art'

Cardano’s Charles Hoskinson Says ‘NFTs Are Not Just Art’

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Hoskinson has a broader vision for NFTs.

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Cardano founder Charles Hoskinson has asserted that NFTs are more than just art.

The crypto entrepreneur made this known at the Crypto Summit 2023 in Switzerland yesterday, per a tweet from Powerledger’s Dr Jemma Green. It is an annual conference that has been held since 2017 and is one of the longest-running in Europe.

Speaking virtually at the event, the Input Output Global chief asserted that NFTs are more than just digital art. According to the Cardano founder, NFTs can be anything from objects, events, organizations, and transactions.

“NFTs are not just art, they can be objects, events, organizations and transactions,” Hoskinson said per Dr Green’s tweets.

Notably, the Cardano founder said this while talking about RealFi, which he has often touted as the next frontier of DeFi. In a recent YouTube video, Hoskinson noted that with RealFi, you have an identity, metadata, governance standards, and certification. 

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Per a 2021 blog post from IOG, RealFi is where Cardano’s capabilities will come alive with the plan of serving real people with real financial value. IOG believes that a digital identity that provides comprehensive information on users will enable people, especially in developing countries, to access loans even without collateral, provided there are proper standards governing the network.

It bears mentioning that Hoskinson has become more outspoken about NFTs recently. Particularly, the Cardano founder has raised concerns over the lack of clarity on the rights of NFT holders. It will be unsurprising to see NFTs play a critical role in Cardano’s vision for RealFi.

Notably, the Cardano NFT ecosystem is seeing increased adoption. As highlighted in a recent report, some Cardano ape NFTs are now selling for as much as Bored Apes. 

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Author

Ammara
Ammarahttps://thecryptobasic.com/
Ammara Mubin is a cryptocurrency reporter and trader with vast experience in the industry. Mubin has written several news stories related to the crypto industry, including non-fungible tokens (NFTs), decentralized finance (DeFi), fundraising, mining, etc. Her major focus is covering regulatory events that are capable of shaping the entire crypto ecosystem.

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