Ripple revealed its plan to enter the NFT field and increase the utility of the XRP Ledger native token. Ripple Ledger is developing into an NFT platform, and supporters have noticed that the XRP ledger has the characteristics of supporting NFT. The platform runs on XLS-20, which is a standard that provides seamless functionality for NFTs. The community has not yet approved the standard. Once approved, RippleX will support the development of NFTs on its network. The payment giant will work with Mintable, the NFT market, to power NFTs.
Earlier news, Ripple announced the launch of a $250 million creator fund, allowing creators to explore new NFT use cases on XRP Ledger (XRPL). In addition to financial and joint marketing support, creators will receive technical support for building XRPL-based NFT experiences and creative support for producing high-quality NFT projects.
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