Over 500 Projects Building On Cardano Network, With A Third Based On NFTs — Says IOHK Executive

The Cardano network has some 517 projects up and running, said Tom Harrison, marketing and communication director at IOHK: Input-Output, noting that over one-third of the projects were NFTs (non-fungible tokens).

In a Linkedin post shared March 11, Harrison, the marketing face behind IOHK, which is a driving force behind Cardano, said, "The #Cardano ecosystem continues to grow, with now over 500 projects #BuildingOnCardano — from NFT collections to #DeFi lending and new wallets. Props to all the IOG team that continues to drive the platform forward. It has been a remarkable journey to get to here. And kudos to the innovative, passionate community of builders that has brought this project so far. We’re really just getting started, you know. #Blockchain."

Harrison attached a pie graph of the purported projects and where they are focused, indicating that NFT collections account for a 34.7% share.

The rest wwere decentralized exchanges, lending, auditing and certification, NFT marketplaces, wallets, incubator or launchpad, decentralized finance, and gaming.

Cardano is a smart contracts platform with the highest 24-hour transaction volume of $32.38B, just above Bitcoin and Litecoin, as of 3.28 a.m. ET, according to data available at Messari.io.

The in-house token ADA was trading at $0.8044, up 0.99%, CoinMarketCap data showed.

Last September, Cardano’s new Alonzo Hard Fork came alive on its network enabling smart contracts to be deployed on the mainnet. It was part of the development cycle of Cardano known as the Goguen era, and a crucial part of it was the integration of smart contracts.

Since then, the network has gone through other important upgrades.