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$250 Million Creator Fund Launches for XRPL-Focused NFT Enthusiasts

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Sat, 11/20/2021 - 15:29
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Vladislav Sopov
Monica Long, general manager at RippleX, the development arm of Ripple digital payments decacorn, sat down with Tony Edward of Thinking Crypto podcast
$250 Million Creator Fund Launches for XRPL-Focused NFT Enthusiasts
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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.

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%.

Related
Ripple Announces New ODL Corridor in Japan

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.

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About the author

Blockchain Analyst & Writer with scientific background. 6+ years in IT-analytics, 3+ years in blockchain.

Worked in independent analysis as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)