Cardano announces final NFT land sale…but Is its DeFi leg faltering?

Paigambar Mohan Raj

Cardano had announced the launch of its digital world, Pavia. Pavia is named after Pavia, Italy, which is the birthplace of Gerolamo Cardano, whom the popular blockchain platform takes its name after. 

The metaverse project has just announced its last Cardano NFT Land auction, which will take place in early to mid-February 2022, following two high-demand Cardano NFT Land sales in October and November 2021. 

At the time of publication, the Cardano metaverse project is only 60% sold out, with the remaining 40,000 Lands set to go on sale in the next few weeks. After the most recent land sale resulted in nearly $7,000,000 (USD) in reimbursements due to significant over-subscription, the metaverse team is taking their time with the final sale. This approach sure seems on the safer side. 

The final sale will see off all of the 100,000 land parcels, each of which is minted as a unique Cardano NFT with coordinates that can be found and customized on 

More about is a newcomer to the metaverse, following in the footsteps of Ethereum’s Decentraland and Sandbox. The project has been well received by the community in general. According to data from, Pavia Land parcel NFTs are one of the most traded NFTs of all time, indicating that the community is eager to claim some of the hottest digital real estates in the Metaverse.

Is Cardano’s down trend on its way to a rebound?

The Alonzo hard fork event in September of 2021 brought with it smart contract capabilities, paving the way for DeFi and DApp’s. The Alonzo update included its very own Smart Contract development language called Plutus. However, many were not happy as Cardano did not deliver on many of its promises. Moreover, there hasn’t been much activity in the ADA smart contract ecosystem. It would appear that the project hasn’t been able to excite the users in the way it had last year. As per the data available in DefiLama, Cardano’s TVL is at $3,171,526. This is a lot lesser than the other projects, which are just as big of a name as ADA. 

Source: DefiLama

Cardano’s delays in the past, regarding the rolling out of smart contract capabilities, did taint its image. It may have gone from being a promising project to one of overhyped. But things seem to be turning around for the blockchain platform. The project is entering the Basho stage of development, which will see ADA investing further energy into scaling and optimization. Once the Basho stage is fully implemented, it would allow the blockchain to handle millions of crypto transactions per second. Additionally, it would allow interoperability between other blockchains.