Monica Long, general manager of Ripple's RippleX explained why XRP Ledger is a natural platform for the release of non-fungible tokens (NFTs).
XRPL's standard for NFTs is on its way to devnet, large-scale fund launches
Ms. Long sat down with Tony Edward in the latest episode of popular podcast Thinking Crypto. The prospects of XRP Ledger blockchain platform as a technical basis for NFTs was among the most interesting subjects discussed by the two.
My interview with @MonicaLongSF, GM of @RippleXDev at @Ripple is live!
WATCH ▶️ https://t.co/Ma8YW0qw7D
- #RippleX Overview
- #XRPL Dev grants
- #NFT Creator Fund
- #Ripple #ODL Adoption
- Bhutan #CBDC & Central Banks building on the XRPL
- #DeFi, Wrapped #XRP & More! pic.twitter.com/fsA4UvcExB— Tony Edward - Thinking Crypto YouTube & Podcast (@ThinkingCrypto1) November 19, 2021
As explained by RippleX GM, since its inception in 2012, XRP Ledger has supported the issuance of various tokens. Thus, the XRPL community is interested in its evolving into a top-tier NFT platform.
Not unlike Ethereum's ERC-721 and ERC-1155, the XLS-20 standard will empower XRPL with seamless NFT functionality. If approved by the XRPL enthusiasts' referendum, the standard will go live in devnet soon.
Also, to bootstrap the efforts of NFT creators, RippleX launches a dedicated fund. Partnership with the Mintable project is another powerful catalyst for XRPL's NFT progress.
ODL performance rockets despite regulatory attacks on Ripple
Also, Ms. Long shared the last statistics from Ripple's money corridor ODL. Retail users and institutions leverage it for cross-border settlements.
She revealed that the protocol witnesses 130% quarter-over-quarter growth in terms of value processed. Compared to Q3, 2020, this indicator spiked 2,400%.
As covered by U.Today previously, on July 28, 2021, Ripple activated a brand new ODL ("On-Demand Liquidity") corridor between Japan and the Philippines. The new corridor supports seamless conversion between XRP token and the Philippine Peso.