Following the announcement of XRP’s listing on Coinbase, Ripple is now partnering with crypto gaming giant Decentraland to develop personalized digital assets that will be tradable in-game. The partnership represents one of many ways that NFTs could have a meaningful impact outside of the world of virtual reality.
Ripple is developing new functionality for the XRP ledger that will allow for the creation of NFT tokens. The company has hired a former Ethereum developer to work on this project.
Ripple, a fintech company, is extending its crypto footprint by establishing a new standard that would enable complicated NFT apps to reside on the $XRP Ledger. To help fund this effort, the French non-profit has been looking at additional areas of growth that will help it improve its capabilities on several fronts.
The new standard is known as XLS-20, and it will allow “developers design a more complex and inventive NFT application,” according to the company. The program will also involve the onboarding of multi-purpose apps and the upgrading of the company’s XLS-20d standard, which includes native token capabilities.
The announcement follows a series of high-profile charitable efforts by the business, the most notable of which being the formation of a $250 million Creator Fund for individuals looking to build and monetize novel NFT experiences on the XRP Ledger. The fund has already received 4,000 proposals for projects centered on NFTs, which span worlds including the metaverse, gaming, digital collectibles, and crypto art.
Furthermore, the corporation pledged 1 billion XRP to the XRPL Grants program, which aims to accelerate financial, technological, and commercial growth on the XRP Ledger over the next 20 years.
The “how to buy xrp nft” is a cryptocurrency that has been developed by Ripple. This cryptocurrency will be used in the future for NFT functionality on the $XRP Ledger.
Frequently Asked Questions
Does ledger support Ripple?
A: Ledger does not currently support Ripple.
How does a Ripple ledger work?
A: A ripple ledger is a decentralized digital accounting system that records transactions in real time. It uses distributed ledger technology and allows people to make payments or exchange value without the need for a third party like banks.
What can I build on XRP Ledger?
A: You can build a decentralized application using the XRP Ledger. This is what people typically do when they are building on the ledger, or if you want to create something that requires a lot of computing power and data storage – like an AI bot for example
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