Monica Long, general manager of RippleX, explained why the XRP Ledger is an ideal platform for the distribution of non-fungible tokens (NFTs).
The XRPL standard for NFTs is nearing completion, paving the way for large-scale fund launches.
Ms. Long was interviewed by Tony Edward in the most recent episode of the popular podcast Thinking Crypto. Among the most intriguing topics discussed by the two was the prospects of the XRP Ledger blockchain platform as a technical foundation for NFTs.
According to RippleX GM, XRP Ledger has supported the issuance of various tokens since its inception in 2012. As a result, the XRPL community is eager to see it develop into a top-tier NFT platform.
The XLS-20 standard, like Ethereum’s ERC-721 and ERC-1155, will provide XRPL with seamless NFT functionality. If the XRPL enthusiasts’ referendum is successful, the standard will be implemented in devnet soon.
RippleX also establishes a dedicated fund to support the efforts of NFT creators. Another powerful catalyst for XRPL’s NFT progress is its collaboration with the Mintable project.
Despite regulatory attacks on Ripple, ODL performance skyrockets.
Ms. Long also shared the most recent statistics from Ripple’s money corridor ODL. It is used for cross-border settlements by retail users and institutions.
She revealed that the protocol is growing at a rate of 130 percent quarter over quarter in terms of value processed. In comparison to the third quarter of 2020, this indicator increased by 2,400%.
Ripple launched a brand new ODL (“On-Demand Liquidity”) corridor between Japan and the Philippines on July 28, 2021. The new corridor allows for the conversion of XRP tokens and Philippine pesos.