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Cardano’s IOHK shares updates with the launch of a new cross-chain bridge

Input-Output HK (IOHK) – the development company and the driving force behind Cardano (ADA) – provided updates on Cardano-based NFT lending platforms, multi-chain bridges between the blockchain and Ethereum, etc.

  • According to Input-Output HK’s tweet thread, the Cardano network is currently home to nearly 900 projects in total, with the latest example from IagonOfficial, a cloud computing platform, announcing its migration to Cardano last week. Since then, 50% of its token supply has been bypassed by Ethereum.
  • IOHK also said that NuFi, a cross-chain bridge aimed at connecting different Layer One networks, has launched a wallet with an in-app Cardano DEX. Users can now exchange their Cardano tokens for ERC-20 tokens on the platform.
  • Cardano-based NFT marketplaces are another high-growth area within the ecosystem. Lending Pond, a platform that allows using Cardano NFTs to obtain a loan, attracted more than $90,000 in volume in the first week after mainnet launch. The NFT lending platform announced a partnership with Cardano-based DEX Sundaeswap – one of the main protocols facilitating the exchange of tokens within the network.
  • IOHK shared the updates from Cardano Summit NFT, a collaboration between the blockchain and Terra Virtua, noting that more than 3,000 NFTs were minted from 7 “commemorative” projects. Eligible users can now claim their NFT airdrops on Terra Virtua’s website.
  • Charles Hoskinson and Terra Virtua CEO Jawad Ashraf held Twitter Spaces on Monday to discuss the collaboration between the two companies. Previously, Hoskinson outlined the growth of Cardano’s NFT space after hip-hop mogul Snoop Dogg announced the launch of his own digital collection project on the blockchain.

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