RippleLabs' XRP currency is the sixth largest digital currency in the world by market value and has entered the non-fungible currency (NFT).

As of October 31st, blockchain technology is available for NFTs after a network vote approves the release of the method (XLS-20 enabled according to the specification Ripple). The move comes after Ripple launched a $250 million fund a year ago to explore NFT innovations in its XRPL blockchain.

In an interview with CoinDesk this week, David Schwartz, Ripple Labs' technical director, said that the goal is to achieve mass adoption of monetization by giving lower cost, higher speed and higher security than technical features -- according to NFT means real Access to world affairs. blockchain technology. Ethereum is one of the incumbents.

“You can see projects based on carbon credits and real estate tenure and all this different test cases,” he said in an interview. "Everything you can get in whole or in part is unique and can be described by NFT."

When data creators' remuneration became the focus of everyone's attention, Ripple entered the NFT industry. Well-known marketplaces, including X2Y2, MagicEden, and LooksRare, have made remuneration optional, which has drawn scorn from some.

This will instead limit the extent to which the creator can profit from his work. Ripple's initiative hopes to alleviate such things by allowing maestros to integrate their royalties on-chain.

David Schwartz, CTO of Ripple and one of the system architects of the XRPL ecosystem, released their own NFT series, UglyOnTheOutside. These 28 digital artworks will be created on Ethereum and sold on the OpenSea market.

Schwartz released its NFT writing under the pseudonym JoelKatz.

The items in the collection are extremely ugly characters, and the creator suggested that the future owner's house will be named after the friends they know. This kind of person's heart is as ugly as the appearance of these "old folks". This collection was created using StableDiffusion, software that converts text into images and creates vivid, realistic artwork. The total transaction volume of UglyOnTheOutside at this stage is 3ETH, and the cost price is 0.25ETH per item. "Ugly" creators have a 5% commission on sales.

According to Bithomp Kaj Leroy, founder of XRPL's NFT marketplace onXRP, announced today that all sales on the site totaled more than 7.3 million XRP, equivalent to about $2.45 million. This also makes onXRP the hottest NFT marketplace on XRPLedger so far, followed by xrp.cafe (434,000 XRP, equivalent to about $146,000) and xMart (57,003 XRP, equivalent to $19,184).

21,469 crafts have been sold on the onXRPNFT market, again much higher than xrp.cafe (2,451 NFTs) and xMart (211 NFTs).

The achievements of onXRP first benefited from the exclusive agent Xpunks series presented in the market. Xpunks share their roots with the legendary CryptoPunks NFT series. According to Bithomp, as of today, a total of 337 Xpunks have been bought and sold for a total of 603,792 XRP ($203,000).

In the list of the most popular collectibles, Revelers ranked second with 1,098 sales and a total sales value of $191,320, followed by xSPECTAR (629 NFTs, worth $173,610 in use), and its BoredApesXRPClub (397 NFTs, in use worth $155,300).

NFTs based on the XRP Ledger are still in their infancy

However, a look at NFT sales on other blockchains shows that digital art on the XRP ledger is still in its infancy. According to StockwitsNFTs data, the market leader Ethereum has a turnover of 18 million in the past 24 hours, followed by Solana with $3.1 million, Sorare ($695,000), IMX ($470,000) and Cardano ($343,000). In comparison, the trading volume of XRP Ledger during the same period was only 36,000 US dollars,

Ranked 14th among most blockchain technologies.

Of all the hottest NFT collectibles on blockchain technology in the past 24 hours, at least one XRPL-based aesthetic collectible was in the top 10. BoredApeYachtClub led the pack with $1.9 million, and Xpunks ranked seventh with $5,500.

However, according to RippleCTOSchwartz, the future of NFT may not only lie in artistic design. Ripple's $250 million NFT fund has recently supported other test items in the ticketing, music and movie industries.

Due to the tension between the XRP community and Vitalik Buterin's blockchain technology, some users were quick to accuse Schwartz of building and publishing his collection on Ethereum. A Ripple official replied that its main collection will be released on the XRPL marketplace Sologenic, and he is still negotiating with XRPCafe, another major NFT venue. In addition, Schwartz said that he did not choose a favorite in the NFT industry, but wanted to explore this field as much as possible.

Schwartz also wrote at the time that XLS-20 will make it easier for new external projects to transfer to Ripple's professional technology, and then benefit from low fees and a relatively stable network.

Since the introduction of the NFT feature on the XRP Ledger, adoption of the network has been on the rise. It is worth noting that Mintable, an NFT marketplace based on Ethereum, also officially announced support for XRP Ledger some time ago. Medium and large teams on the Ethereum Internet also see

The development potential of NFTs on the XRP Ledger.

Ripple's CTO also mentioned XRP Ledger's scalability relative to Ethereum. In addition to allowing customers to mint NFTs, Ripple also offers a decentralized exchange where users can issue new currencies or conduct rapid economic transactions. Another attractive benefit of using XRP Ledger is the low cost of building NFTs. Even though the sales market is currently limited to collectibles such as crafts, songs, digital works, etc., Peter firmly believes that the sales market will soon become wider.

Naturally, this is no guarantee of the future, but it's great to see how the field collaborates in this way. Each one is a little bit of anticipation that can ensure that 2023 will be better than the past year. Although this is not a difficult task.