Cardano’s (ADA) Founding Entity Launches New Social Networking App

As per the latest news related to Cardano (ADA), its founding member EMURGO has recently announced the launch of a new social media network called the Cardano Spot. Its primary goal is to connect Cardano enthusiasts, fans, and token holders all around the globe into one single platform. Cardano Spot is an interactive platform that is user-generated and is specifically designed to facilitate the investment in, distribution of, consumption of, and monetization of Cardano content.

Cardano (ADA) Making Waves

Cardano Spot’s platform provides a solution to the problem of fragmented content in the Cardano ecosystem by aggregating valuable, high-quality content that originates from reputable sources within the Cardano ecosystem in order to provide the most recent information regarding developments in the Cardano ecosystem.

Sebastian Zilliacus has been appointed as the Managing Director to lead the new media arm of EMURGO, (EMURGO Media). Speaking on the new venture, he stated that:

“During my tenure at EMURGO, I have witnessed the passion of the Cardano community firsthand. I am excited to help lead and build EMURGO Media to become the informational bridge between Cardano’s ecosystem of products and services and the community”

“With access to information and the ability to generate helpful content, we are putting power back into the hands of the individual user to play a meaningful role in growing Cardano to be an industry-leading decentralized blockchain platform,” added Sebastian.

Cardano Spot Opens Waitlist

Currently, Cardano Spot has opened its waitlist for users to register for a chance to join the community in its early-access program.

With over 4 million Cardano ADA wallet addresses globally and over 3,230 stake pool operators securing the network, Cardano Spot is expected to have a grand opening during its public launch.

Price Reaction On Cardano News

Given that other coins like Bitcoin & Ethereum have tumbled in synchrony in response to the collapse of the crypto exchange FTX, Cardano’s native token ADA appears to have gained in the short term from the excitement surrounding its upcoming product launch.

Read More: How FTX Founder Went From “The New JP Morgan” To A “Con Artist”

The price of ADA jumped 2.6% in the last 24 hours and rose by 6.6% in the past week. Currently, the token is trading at $0.33 at the time of writing.