Why NFTs on Cardano?
For Cardano, NFTs are native tokens
Did you know that Cardano does not use smart contracts to interact with NFT? The network treats NFTs the same way it treats ADA coins. This reduces complexity and transaction fees while increasing security.
When people want to mint NFT on Ethereum, they use the ERC-721 (or ERC-1155) NFT token contract. This is usually done in a copy-paste manner. Users need to fill in the data and mint NFT. The smart contract is then used each time NFT moves from address to address. There is a higher fee for using a smart contract than for sending a regular transaction.
Cardano has an accounting infrastructure for tokens defined in the ledger model and can transfer NFT natively. Cardano has a so-called multi-asset ledger, so NFTs are stored directly in the ledger similar to ADA coins. It is easy to track the ownership of NFTs or to audit them. Transferring logic cannot be customised as it is part of the protocol. All tokens are transferred in the same way. There is no unexpected behavior.
Users can send each other NFT simply just like ADA coins. The fee for a transaction containing NFT can only be paid in ADA. Users need to create a regular transaction in which they insert NFT and the ADA fee. Every Cardano wallet is capable to do that.
Cardano has a fixed fee policy , which means that the fees depend on the size of the transaction. The fee is not dependent on the current network load . For Ethereum, fees increase if the network is clogged and therefore are sometimes very high. At the time of writing, ADA fees are about 31 times cheaper compared to fees on ETH .
Smart contracts make the buying and selling of NFTs secure
Cardano allows users to insert multiple NFTs into a single transaction. It is even possible to send NFTs to multiple recipients. Transactions with multiple NFTs are cheaper than sending NFTs individually. Ethereum can't do this because NFTs are always tied to a specific smart contract that knows nothing about other NFTs.
The handling of NFT is not tied to any particular smart contract in the Cardano ecosystem, so it can be used within any other smart contract without special support. This opens the door for many possibilities to use NFT in the future. Marketplaces use smart contracts for trading. It is easy for developers to write applications that interact with NFTs. Smart contracts make the buying and selling of NFTs secure as it is automated and eliminates the risk associated with third parties .
From the perspective of ordinary users, the differences between Cardano and Ethereum are not visible at first glance, but the practical advantages are obvious. On Cardano, NFTs are simple to use, they are stored directly in the ledger, fees are lower and more stable, and usage is more flexible . Come and try it out over here on jamonbread.io