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Ripple Announces New Release to Support Advanced NFT Functionality: Details

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Fri, 04/08/2022 - 10:03
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Tomiwabold Olajide
This amendment is now open for voting according to the XRP Ledger's amendment process
Ripple Announces New Release to Support Advanced NFT Functionality: Details
Cover image via stock.adobe.com

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Ripple has announced the release of XRP Ledger version 1.9.0. The release, Version 1.9.0 of rippled, introduces a new amendment to the XRP Ledger protocol to support non-fungible tokens (NFTs) natively on the XRP Ledger (per the XLS-20 draft standard).

According to the release notes, this amendment is now open for voting according to the XRP Ledger's amendment process, which enables protocol changes following two weeks of more than 80% support from trusted validators.

If successfully passed, this might permit advanced NFT functionality as developers can now create applications that allow users to mint, transfer and ultimately burn (if desired) NFTs on the XRP Ledger.

Ripple's CTO, David Schwartz, spoke about the latest release: ''Ripple validators will (for now) veto bringing XLS-20 to mainnet until we feel confident in NFTs impact on XRPL. In the meantime, we're conducting performance testing and plan to share our results with the broader community.''

He explained further: ''Ripple has long been a responsible participant in the XRPL community, and while we're excited to contribute to NFT technology on the XRP Ledger, we're also committed to its stability and scalability. As such, today's release includes a number of performance improvements, and the ultimate outcome of XLS-20 will be up to the collective XRPL community.''

NBA legend Michael Jordan NFTs to debut on XRPL

Rare Air Media, the company behind Michael Jordan's graphic autobiography For the Love of the Game, is getting into NFTs.

The company is collaborating with VSA Partners, Ripple's Creator Fund's primary creative agency partner, to launch NFTs on the XRPL, including a one-of-a-kind collection of digital assets dedicated to former NBA player Michael Jordan's life and career.

The first batch of NFTs is expected to be available in Q2, 2022, and will comprise an intimate selection of original, momentous photos of Michael Jordan, as well as his thoughts and observations leading up to the photo.

From celebrities like Snoop Dogg and Paris Hilton to professional athletes like LeBron James, and major brands including Disney and the Grammys, the media and entertainment space has been among the earliest adopters of NFT technology.

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About the author

Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.