Ripple to look into new NFT use cases, supporting NFT lending start-up RippleXRP XRPArmy XRPHolders XRPCommunity XRPthestandard Crypto
edition, Monica Long discusses how use cases for NFTs can go beyond the most typical use case, which is collectibles.
"The applications of NFTs can extend to lots of different industries, but the core idea is about ownership," she stated. According to the Ripple GM, NFTs' special attributes that define ownership might be especially useful for assets like, say, real estate titles or carbon credits. This XLS-20 standard proposed by Ripple aims to make NFT creation on the XRPL highly compact and effective, minimizing any negative effects on the ledger's performance and preventing congestion. With built-in functions like minting and auctioning, XLS-20 aims to significantly simplify the creation process for developers.Last month, RippleX proposed adding native automated market maker functionality to the XRP Ledger for consideration by its developer community.
Now, the proposal is gearing up to receive feedback. Although it would be a novel addition to the XRP Ledger, an automated market maker is by no means the first of its kind. Despite being a late entrant, this AMM hopes to be a very attractive contribution to decentralized finance because of the distinctive AMM concept it provides and the performant nature of XRP Ledger. The novel continuous auction mechanism hopes to be the AMM protocol's most distinctive feature.
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