Largest proof-of-stake blockchain, Cardano, has been making strategic moves lately. Its most recent move is a partnership with eSports giant, Rival, to roll out eSports non-fungible tokens (NFTs). Cardano has promised an eventful fourth quarter following the Summit that it held in September.
At the Summit, Cardano informed its community of upcoming projects, partnerships, including the release of products revolving around NFTs given its recent smart contract integration. Cardano aims to build on the momentum that its smart contract rollout has generated. The latest NFT trend is also a pivot that the largest proof-of-stake blockchain is looking to capitalize on.
Rival Enters Blockchain Industry with NFT Marketplace
Cardano shared a video at the early September summit showing a roadmap for its NFT initiative. The partnership with Rival is a step in this regard. Cardano also announced that it hopes to develop agnostic NFT marketplaces, fan rewards and a host of other interesting products to assist Rival including other partners. Rival will be able to create and distribute NFTs, redeem them for physical items and royalties on Rival’s platform, Cardano Foundation announced on its website.
The partnership will also mark Rival’s first entry into the blockchain industry. Commenting on the partnership, CEO of Rival, Matt Virtue stated that it signifies a significant step as it evolves into being an enterprise platform that will assist in unlocking the potentials in gaming and eSports. He added that the Cardano partnership will help both gamers and partners maximize and personalize their experience on the platform.
Cardano Supports Initiative To Plant 1 Million Trees
Cardano announced, during the Summit, its intention to embark on a global cause to plant up to 1 million trees. The foundation has partnered with Veritree, a global reforestation company to bring this cause to reality. Veritree will rely on the Cardano blockchain to store records of planting under the Global Impact Challenge, which Cardano itself is part of. Thus, both firms have called for donations from partners and the global community using Cardano’s native token ADA. According to Veritree, donors will enjoy certain benefits or be issued tokens belonging to the firm on account of their donation. They will be allowed to redeem these tokens for tree planting certificates, Veritree revealed.
Cardano signed another partnership deal with UBX given its aim to pivot Cardano blockchain in decentralized finance. As revealed by the foundation, fintech firm UBX will set up a staking pool on Cardano. By staking UBX, users will earn ADA rewards for helping secure the Cardano network. Meanwhile, Cardano is seeking to provide identity-based solutions for decentralized finance, insurance using its blockchain. For this, Cardano inked a deal with AID:tech.