Although the price of Cardano’s ADA is falling, many on chain metrics are on the rise. Everlodge is a brand new project looking to take advantage of the tokenization of RWA (Real World Assets); specifically vacation homes. Let’s look into both to find out more.
Join the Everlodge presale and win a luxury holiday to the Maldives
Cardano keeps building and evolving – can ADA catch up?
Although Cardano’s price has been on a decline since hitting highs of $0.50, other things are looking up in the ecosystem.
In terms of development Cardano recently released their layer 2 scaling solution Hydra, which should boost the slow speeds that some users complain of.
While DeFi has taken a hit in recent months, perhaps due to the rising inflation rates, Cardano’s TVL has been solidly increasing since the start of 2023, according to data from Defilama. However at $164 million at time of writing, this is a mere drop in the ocean compared to chains such as Arbitrum which is currently showing a TVL of $1.7 billion.
More developers continue to be attracted to build dapps for Cardano, and the recent Marlowe upgrade is set to make that easier.
In another of Cardano’s small wins, we can look at the NFT sector. Twitter handle @StocktwitsNFTs posted a chart showing that Cardano’s floor price for NFTs was 22% higher last week, than Ethereum. Some doubters, however, have pointed out that the overall volume of NFTs traded on Cardano is still very low, much like the chain’s TVL.
Still, the Vasil update made NFTs work much better on chain, showing Cardano’s eagerness to grow in this space.
Overall despite ADA’s weak price action, Cardano does seem to have the infrastructure to keep growing, albeit slowly. ADA is currently changing hands at around $0.26 down from highs of $0.45 in April and $0.35 in June
Everlodge is tapping in to a huge potential market
Everlodge aims to be the AirBnb of Web3. As a new concept we need to break down the fundamentals first. Tokenization of RWA has been predicted to be the next revolutionary development both in TradFi and DeFi, with property at the forefront. Matteo Andreeto of State Street said that they “will be looking at the tokenization of ETFs … And then the tokenization of private assets. That for me will be game-changing.”
Given that the global property market is worth over $280 trillion, the bullishness makes sense.
RealFi, a similar project but without the vacation rental model, allows people to buy shares in regular rentable properties. Their TVL has grown from $20 million to $92 million, indicating their growth. And a look at their website shows that all properties are currently sold out, with two new ones waiting to be released.
While institutional investors have platforms like centrifuge.io for investing in RWA, Everlodge aims to target the retail investors who are interested in the global vacation market. Worth over $82 billion this is a sector with lots of room for profit.
Ultimately Everlodge will allow people to invest in vacation properties around the world, receiving fractional NFTs in return, and of course, rental yields. The NFTs store deeds and other important data in the metadata. The blockchain will record rental and property maintenance records, ensuring transparency.
Everlodge’s exciting concept extends beyond what’s described here and is worth finding out more about on their website or whitepaper. Everlodge is in the beta phase of its presale with ELDG currently for sale at $0.01. The launch is planned for Uniswap and two Tier 1 exchanges at a price of $0.038, from which experts are predicting a 30x.
Find out more about the Everlodge (ELDG) Presale
Website: https://www.everlodge.io/
Telegram: https://t.me/everlodge
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