Ripple NFT ready to launch on XRP Ledger in two weeks

Wave Non-fungible tokens (NFTs) will go live on the XRP Ledger in two weeks if 80% of the network’s validators vote in favor of XRPL Amendment v1.9.2 (XLS-20).

XLS-20 offer Enables creating Ripple NFTs on the XRP Ledger without smart contracts. Mint and auction facilities are included in the standard.

Ripple NFT standard has been a long time coming

The offer also allows NFTs to be created with minimal negative impact on XRP Ledger performance and network congestion.

Earlier in 2022, Ripple Labs unveiled an NFT-Devnet to encourage developers to tinker with NFT capabilities in the XLS-20d proposal. The beta version included minting, burning, trading functions and royalty structure for NFT creators. NFTs can be mined using NFTTokenMint transactions and burned using NFTTokenBurn transactions. The owner can receive an offer from an interested party through the NFTTokenCreateOffer transaction.

Ripple first announced NFT support for the XRP Ledger in May 2021 in order to reduce the gas paid to mint NFTs on Ethereum.

Ripple recently unveiled the second group of NFT artists interested in joining its $250 million NFT Creator Fund. Along with the funds, the company provides technical, financial and marketing expertise to help independent artists promote their art.

For the second wave, Ripple Labs is focusing on music-based projects.

Ripple Labs announced the Creator Fund in September 2021 in partnership with marketplaces MintNFT and Mintable. In March 2022, the company added over 4,000 NFT artists.

Ripple NFT Collection ready for launch

Xstick Collection XRP could be one of the first NFTs to launch with the Ledger in two weeks.

The company first captures the customer’s ideas and then sends them on a stick for creation. The company completes the mining process before sending the NFTs to the customer’s crypto wallet. Clients can choose from three customization tiers: Rare Tier Customized NFT (1,600 XRP), Custom Tier NFT Package (7,200 XRP), and Custom Head NFT (1,500 XRP worth $xSTIK tokens). An NFT owner from each of the different levels can secure between 1 and 20 points towards being added to the NFT Richlist. Your NFT will automatically be staked to receive XRP rewards in the TOP30 in the NFT Richlist. Those holding at least two NFTs beyond the TOP31 position will be paid in xSTIK tokens.

Sologenic, a decentralized exchange and NFT marketplace built on top of the XRP Ledger, could attract attention if the XLS-20 proposal is passed. Bullrun Bulls #2, New Generation B1 and Batch 4 Collections are the popular NFT collections in the market.

collection creators like XRPL Wild Stag Treehouse, smart scholarAnd nft pawn kingsAlso airdropping NFTs ahead of launch.

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