Ripple’s XRP Ledger Open Space for NFTs
- All developers are invited to take part in this hackathon to create functional NFTs on the XRP Ledger.
- A user can mint a photo NFT on the XRP Ledger with unique information using the XRP Ledger.
The news was confirmed by Ripple’s development team, who advised XRP holders to treat themselves to NFTs on the XRP Ledger. The XRP Ledger was the first blockchain to allow asset tokenization. Whether fungible or non-fungible, the XRP Ledger’s built-in tokenization capability and built-in decentralized exchange (DEX) are perfect for developers looking to add decentralized token management to their apps.
Hackathon Open to All Developers
All developers are invited to take part in this hackathon to create functional NFTs on the XRP Ledger. The blockchain now supports NFTs as of Oct. 31, after a referendum approved the technology’s rollout. The move comes a year after Ripple established a $250 million fund to investigate NFT innovation on its XRPL platform.
According to David Schwartz, chief technology officer of Ripple Labs, NFTs on the Ripple blockchain are distinct from digital collectibles held on other networks. Schwartz stated that the development team used a no-smart contract approach, making XRPL-based NFTs less subject to security problems.
A user can mint a photo NFT on the XRP Ledger with unique information using the XRP Ledger. There is also a marketplace with a buy-sell mechanism that allows users to browse and purchase any available NFTs on Ti(n)ft Tok, a photo marketplace app. Ti(n)ft Tok, which allows users to take a photo with their phone and turn it into an NFT. Ti(n)ft Tok was one of the XRPL library category winners for NFT minting, and while Ti(n)ft Tok provides superficial authenticity checks, NFT utilities and tooling are still in their infancy.
Read more: https://thenewscrypto.com/ripples-xrp-ledger-open-space-for-nfts/
Text source: TheNewsCrypto – Blockchain & Cryptocurrency News M
