Canto, the EVM-compatible Layer 1 blockchain is seeing its NFT market Alto gaining popularity. The new Layer 1 chain is built on a culture of "Free Public Infrastructure" and has seen its token, the Canto token, rise from around $0.08 at the beginning of the year to around $0.56 today. This increase in token price, attention and transactions has led to the growth of Canto NFTs. Some collections have risen more than 20x in floor price, such as Shnoises.
The sharp increase in NFT floor prices could be attributed to the dramatic increase in Canto's TVL, which has doubled from $70M at the beginning of this year to $186M today according to DefiLlama, and due to the chain being still early with a limited number of projects to explore, liquidity eventually flowed into the NFT market.
Alto, the Canto's NFT market, features zero trading fee as with other infrastructure projects on Canto.
Layer 1
Cosmos
NFT
