XRP Ledger, one of the oldest blockchains ever, is getting closer to activation of native NFT functionality
In 2022, as the dust around the phenomena of non-fungible tokens settles, it is becoming obvious that this concept is here to stay. Meanwhile, the majority of NFTs are still issued on a single blockchain: Ethereum or EVM-compatible blockchains Polygon Network , BNB Chain and so on.
NFTs became popular in 2017-2018 with the inception of the Crypto Kitties game. But its mainstream adoption made headlines in 2021: prices for top-tier digital art objects tokenized as NFTs spiked to eight-digit waters. The Bored Ape Yacht Club collection - tokenized avatars of fictional apes - became a symbol of this craze.
Initially, XRP Ledger’s NFTs were supposed to be “indivisible XRP IoUs,” i.e., XRPL-based tokens that cannot be split up. Unlike Ethereum’s NFTs , XRPL designed required users to"opt in '' to receive a token by explicitly signing a transaction. In March 2022, Ripple launched Ripple’s Creator Fund, a $250 million initiative designed to support digital artists interested in NFT deployment to XRP Ledger. Every team can apply for a grant and create an NFT collection or marketplace on XRP Ledger.Ripple’s Creator Fund has already partnered with Mintable, Ethernity, MomentoNFT and NFT Pro, well-known projects in the NFT segment.
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