XRP Becomes Currency of This Metaverse, Here's Its Utility

Mon, 05/01/2023 - 11:09
Tomiwabold Olajide
XRP adopted as metaverse cryptocurrency of choice
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XRP, the sixth largest cryptocurrency by market capitalization, has added a new utility: buying land in the Xspectar metaverse.

xSPECTAR is a Web3 company built on XRPL with NFT collections and a metaverse. xSPECTAR was added as a validator to the UNL by the XRP Ledger Foundation in October of last year.

In a recent tweet, the Xspectar team announced the details of its presale land event for its metaverse. It makes it known that XRP can be used to buy land in Xspectar's alternative world to socialize, play and do business.

Other options for land purchase include credit cards and XSPECTAR, the native token of the xSPECTAR blockchain.

XRP continues to add new methods of being spent as currency. In August last year, Binance Card announced the addition of XRP to the list of supported cryptocurrencies on the platform.

Binance Card not only allows supported cryptocurrencies to be spent in Europe but also anywhere the Visa logo is seen. Binance Card, a debit card, also allows supported cryptocurrencies to be spent at over 90 million merchants worldwide.

XRPL to sunset Hooks testnet V2

XRPL Labs has announced its plans to sunset Hooks testnet V2 as Hooks testnet v3 remains operational and Evernode has migrated to it.

The XRP Ledger software developer states that it will be shutting down Hooks testnet v2 in two weeks, on May 14.

XRPL Smart Contracts Platform Announces Hooks V3 Release, Teases Airdrop

Last month, April saw the activation of Hooks v3, the latest iteration of XRPL smart contracts in beta testing.

Hooks, which are basic smart contracts for XRP Ledger, are small, efficient pieces of code being defined in an XRPL account, allowing logic to be executed before and/or after XRPL transactions.

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.