One of the world's largest web3 companies and a renowned crypto payment system have joined forces and entered into a partnership in the NFT field. We are talking about CrossTower and Ripple. Thanks to the partnership, NFT collections minted on XRP Ledger will appear on CrossTower's marketplace, and therefore XRPL NFT developers and creators will have full access to the site's functionality and global audience.
That said, according to Kapil Pathi, CEO of CrossTower, the partnership with Ripple and the use of XRPL on the platform opens up opportunities for CrossTower to expand into new markets, particularly India, a country that Pathi has long had his eye on. XRP Ledger support will reduce the cost of creating and producing NFT content many times over, which will open up access to a lot of talent and strengthen CrossTower's position in such a rapidly growing and popular segment of the crypto market.
The first line of XRPL NFT projects on the marketplace will be introduced in the coming weeks.
Crypto and NFT have no borders or barriers
The news is extremely noteworthy because it literally implies that there are no boundaries or limits to crypto or NFT, with CrossTower and Ripple being living proof of that.
CrossTower is bright in its aspirations to conquer the Indian crypto market, despite the extreme severity of the local authorities regarding crypto. The U.S.-based company already managed to open a branch of its exchange in India late last year, and the consistent tightening of laws and tax pressure did not scare it off. The company is very serious about establishing itself in this multi billion-person market, after having found success in the United States.
Ripple, on the other hand, recently reported on the successful testing of a new standard for creating complex NFT objects on the XRP Ledger, XLS-20. According to the company, the update will not only help in creating multi-purpose applications, but it also allows us to do it quickly, cheaply and easily. Previously, Ripple created a $250 million fund to launch its NFT program and sponsor XRPL NFT developers.