NFT projects are businesses that require multiple people to come together to create the artworks, community and handle the technical aspects of minting, but there exists no platform for such hiring.

Cardano at the time of writing this proposal has 56000+ policy IDs that represent collections of different utility, collectability and art with barely any collection having a working on-chain DAO.

Across the crypto ecosystem and within Cardano exist a lot of tokens that can be construed as securities under the North-American and European laws raising issues of legitimacy and legality.

The Cardano space has been auctioning NFTs since March of 2021 using Discord and other escrow models. While these are easily replicable there is no publicly available smart contract for auctions.

The Cardano NFT Ecosystem is at the point where it is starting to attract creators from other spaces, yet the chain at this time does not have tools that allow for easy onboarding.

NFTs on Cardano have seen an uptick in trading volume over the past few months, though as per our analytics most of our traffic tends to originate from North America.