Revently, Ripple CTO David Schwartz announced the launch of XRPL’s own standard for NFTs on the main net, which was activated with amendment XLS-20.
Bithomp and the founder of XRPL-based NFT marketplace onXRP, Kaj Leroy, reported that sales volumes for their platform had hit an incredible 7.3 million XRP making it by far the most popular NFT marketplace on the XRP Ledger.
A total of 21,469 artworks have already been sold on the onXRP NFT marketplace, which is significantly more than on xrp.cafe (2,451 NFTs) and xMart (211 NFTs).
However, Ripple CTO Schwartz believes the potential of NFTs isn’t limited to digital artwork. The tech giant’s $250 million NFT fund is now backing initiatives centered on ticketing, music, and film demonstrating new use cases for this technology.
In Schwartz’s words, XLS-20 was designed to facilitate external projects to tap into Ripple’s technology and benefit from its low fees and stable network.
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