AdaSwap, a Cardano-based DeFi protocol, is ready to launch an NFT Marketplace on March 30th. A voting mechanism incorporated with a tier-based categorization of its users will be implemented to gamify the new marketplace.

Explaining the ADANFT Marketplace

AdaSwap, one of the earliest DeFi protocols built on the Cardano network, is launching an NFT marketplace. This is a key step, according to the press release shared with CryptoPotato, that will “bring more users into AdaSwap’s ecosystem” and generate greater value and incentive to hold ASW, the native token that is available on GATE.IO.

ADANFT, backed by AdaSwap, is designed to tackle the issue of “poor curation” identified in other NFT marketplaces. It also wants to provide lower gas fees for minting and trading NFTs, and make the marketplace more decentralized in the way that users get to decide which collections are being listed.

To achieve these goals, ADANFT adopts two distinctive features as follows:

• Users holding ASW get to vote on their favorite NFTs of the week, and “community-selected” moderators will put up the most popular collections on the marketplace. Through this “filtering” process, only the interesting and unique arts will be exhibited on ADANFT.
• ADANFT users will be categorized into three tiers based on how many ASW tokens they hold as Silver, Gold, and Platinum. The most exclusive and valuable NFTs will only be available to higher-tiers users, and the tiers will reward loyal fans of AdaSwap with exclusive airdrops and staking returns. As mentioned in its promotional video, the AdaSwap team has collaborated with NFT celebrities for some “very limited NFT collections.”

AdaSwap CEO Lennon Qualmann laid out his plans regarding the upcoming NFT marketplace in the statement:

“In the pursuit of gamifying the AdaSwap DEX we looked towards the new frontier of blockchain technology and changing trends, the NFT realm fit perfectly.We are aiming to change the way NFTs interact with traditional finance protocols as well as changing the way NFTs are traded by bringing forward new and exciting ideas.”

AdaSwap’s Roadmap Ahead

Earlier this month, Adaswap raised $2.6 million in a private investment led by nine crypto-focused VCs, including Shima Capital, iAngels, Pluto Digital, and the Hollywood actress Gal Gadot, who starred in box office hits like “Wonder Woman” and “Red Notice.”

AdaSwap is planning to release a Cardano-based launchpad in Q3, 2022, as indicated on its roadmap, and create a token bridge that connects Cardano-based tokens to Ethereum, Casper, and BSC-based assets in Q1, 2023.

Cardano (ADA-USD) is a name that’s often included among the crypto giants, yet unlike its peers, the network has not had much luck in the way of celebrity endorsements. There’s plenty of arguments over whether such a thing is worth it; sure, some might say that you should listen to the experts rather than a celebrity. Yet, these endorsements are often what increases the exposure of the project and introduces many potential users to them. So, as news breaks of a big celebrity endorsement on the Cardano network, investors are taking a greater interest in the ADA crypto.

The Cardano network is new on the scene in regard to its decentralized app (dapp) growth. The network only launched its smart contract capabilities in the last six months. However, it is fast building a deep portfolio of dapps and partnerships around the industry and abroad. Led by Charles Hoskinson, a founder of the Ethereum (ETH-USD) network, Cardano is one of the best alternatives to the layer-1 giant.

One of the most popular uses for Cardano, as it continues to build its repertoire of dapps, is in its decentralized exchanges (dexs). Indeed, its SundaeSwap dapp is one of the most well-known of the pack; it offers some of the fastest transaction settlement times available. Now, there’s a new incoming dex, and its big celebrity backing and successful funding round forecasts bullish prospects both for it and for the network at large.

ADA Crypto Gets Assistance From Hollywood Actress Gal Gadot

Gal Gadot, known best for her lead role in the “Wonder Woman” film franchise, is becoming bullish on crypto. More specifically, she is betting on the success of Cardano in dethroning Ethereum. The actress is leading a Cardano dex funding round, and in turn bringing significant attention to the ADA crypto.

AdaSwap is an incoming Cardano dex that calls itself “the backbone of the Cardano ecosystem.” The dex, exclusive to the Cardano chain, is a gasless automated market maker (AMM); this means it does not require the computing power that a transaction on Ethereum would. Effectively, this eliminates transaction fees based on computing requirements.

The project is closing out its most recent funding round this week, and the results are positive. It is bringing in $2.6 million in funding. A portion of this funding came from the Hollywood star. As a result of Gadot’s participation, the network is leaning into the positive PR of the endorsement. Charles Hoskinson took to Twitter to comment on Gadot’s foray into Cardano, saying he is “glad to welcome” the actress to the chain.

As the news continues to ripple across the crypto market, Cardano is not safe from the industry-wide downtrend that’s occurring today. The ADA crypto is losing about 5% this morning. However, trading volume remains on the rise, with $1.1 billion in ADA swapping hands in the last 24 hours.

On the date of publication, Brenden Rearick did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

There’s a new cryptocurrency in town, and Gal Gadot took a chance investing in it.

Cardano is a new digital token, ADA, occupying the sixth-largest cryptocurrency in the world.

After a price surge, Cardano hit a $3 high in September. However, it is trading at $1.38 nowadays.

Cardano’s price was below $2 for the vast majority of the year. It is still unclear if the new cryptocurrency price will increase in 2022.

According to crypto experts studying Cardano’s behavior, Cardano was established as the ‘Ethereum Killer’ last year.

Experts describe ADA as a “fantastic investment” for new and existing investors, The price activity is a luxury that investors shouldn’t let go of.

Cardano dropped its price by 10.98% in the last week. Nevertheless, Bitcoin and Ethereum also had considerable drops.

Cardano has long-term potential, long-term performance, and a positive price forecast to turn into a profitable investment.

Cardano is third-generation crypto. Its characteristics offer the best combinations of the first and second-generation cryptos, such as Bitcoin and Ethereum.

It uses Proof of Stake (PoS) instead of Proof of Work (PoW), improving its sustainability compared to other cryptosystems.

Experts recommend investing in Cardano.

“Cardano’s Proof of Stake, ADA coin, and low-energy usage approach are getting a lot of traction. It offers a lot of scalabilities,” said Blockchain enthusiast Smita Verma.

“Although the digital token can currently execute 250 transactions per second, it is expected to reach 1 million transactions per second in the following years.”

“Due to a variety of factors, Cardano’s price is predicted to surge in 2022. Cardano is expected to enter the institutional adoption circle in the near future. The investment’s worth will increase as it grows,” said Verma.

We can almost assure Gal Gadot will be happy after investing money in a cryptocurrency gaining momentum and interest among new and regular investors.

Ecosystem builder running on Cardano, AdaSwap, recently announced the successful completion of a $2.5 million funding round. Launched with the objective of “establishing” the first DeFi protocols operational on this blockchain, AdaSwap saw a lot of interest from noticeable investors.

Related Reading | Here’s What Cardano Founder Charles Hoskinson Wants For Christmas

According to an official post, the funding round was led by iAngels, with participation from Shima Capital, Pluto Digital, GBV, Stardust, Efficient Frontier, Finova, Banter Capital, and COTI. Other investors from outside the crypto space also took a stake in the project.

As the post confirmed, Hollywood actress Gal Gadot, known for her portrayal of DC Comics character Wonder Woman and for her roles in movies such as Justice League, Batman v. Superman, Fast & Furious, Cleopatra, and others, was part of the funding round.

Gadot’s husband Jaron Varsano, producer and actor involved in the Wonder Woman movie sequel, also participated in the $2.5 million round. Cardano inventor and CEO at Input Output Global, Charles Hoskinson, welcomed Gadot to the “family”. Via his Twitter handle, Hoskinson shared the following message.

I’m glad to welcome Wonder Woman to the Cardano Family https://t.co/ddeDPX7YI0

— Charles Hoskinson (@IOHK_Charles) March 2, 2022

Per the post, AdaSwap will use the funds to “deliver on its goal of building the best-decentralized exchange on Cardano”. The DEX will be complemented by other AdaSwap products to be released on this ecosystem including a native NFT marketplace.

In addition, the project aims at providing ADA users with a decentralized platform to swap native tokens. Therefore, the claim is to be building a gamified Cardano protocol to enable users to trade native tokens deploy on this network. The team behind the project added:

Its plans also include the creation of a Cardano-native NFT marketplace and decentralized finance capabilities such as staking and fixed, long-term and high-yield liquidity pools. Through these applications, DEX users will be able to stake tokens, buy and sell NFTs and earn interest on their Cardano tokens.

Cardano Gets Improvement, What Is IOG Planning For 2022

Actress Gal Gadot and her husband Jaron Varsano are far from the only celebrities that have shown interest in cryptocurrencies over the past months. From NFTs, to GameFi, and DeFi projects, there seems to be a crypto rush booming in Hollywood.

According to the post, Wonder Woman’s lead and Varsano said the following on their AdaSwap investment: “This is an exciting investment opportunity for us in the crypto space”. Project Co-Founder Itay Levy added:

This is one of our first and greatest accomplishments towards building a new financial ecosystem that will have a great impact on our world. The AdaSwap team is really excited to move forward with our project backed by the best investors from both technical and commercial backgrounds.

As NewsBTC reported, the company behind Cardano’s development IOG recently implemented the first of 3 major updates to the mainnet. After the implementation of smart contract capabilities with the Alonzo Hard Fork, the company has set out to improve the network’s scalability and infrastructure.

Related Reading | Cardano Inventor Front-Ran SundaeSwap Users? Research Casts Light

As of press time, ADA’s price stands at $0,93 with a 2.3% loss in the past 24 hours.