{"id":13125,"date":"2022-04-08T03:17:38","date_gmt":"2022-04-08T03:17:38","guid":{"rendered":"http:\/\/egrowonline.com\/?p=13125"},"modified":"2022-04-08T03:17:38","modified_gmt":"2022-04-08T03:17:38","slug":"ripple-develops-new-standard-to-allow-for-complex-nft-applications-on-xrp-ledger","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=13125","title":{"rendered":"Ripple Develops New Standard to Allow for Complex NFT Applications on $XRP Ledger"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div>\n<p>Ripple, a popular fintech firm and a major player in the $XRP market, has announced it has developed a new standard, called XLS-20, to \u201chelp developers build more advanced and innovative NFT applications\u201d on top of the XRP Ledger.<\/p>\n<p>According to the company, the new XLS-20 standard will equip the XRP Ledger with the tools required to create multi-purpose applications and will enhance the XLS-20d standard, which has built-in native token functionalities.<\/p>\n<figure class=\"wp-block-embed-youtube wp-block-embed is-type-video is-provider-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\">\n<div class=\"jeg_video_container jeg_video_content\"><iframe loading=\"lazy\" title=\"Non-Fungible Tokens on XRP Ledger \u2013 Aanchal Malhotra &amp; Gregory Weisbrod\" width=\"500\" height=\"281\" src=\"https:\/\/www.youtube.com\/embed\/Sue0w4HxRJI?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/div>\n<\/figure>\n<p>The new standard is being launched months after <a target=\"_blank\" href=\"https:\/\/www.cryptoglobe.com\/latest\/2021\/10\/a-new-250-million-fund-aims-to-bring-nfts-to-life-on-the-xrp-ledger\/\" rel=\"noopener\">Ripple launched a $250 million fund<\/a> aiming to support those who want to \u201ccreate and monetize accessible and innovative non-fungible token (NFT) experiences on the\u00a0XRP Ledger (XRPL).\u201d<\/p>\n<p>Ripple\u2019s Creator Fund has reportedly already received 4,000 applications for projects centered around NFT-related use cases including in the gaming and metaverse spaces, as well as in digital arts and collectibles.<\/p>\n<p>XRPL, it\u2019s worth noting, currently offers an NFT-Devnet environment. The company is looking to offer further tokenization possibilities to those building on the devnet, and is looking to further support the development of the XRP Ledger.<\/p>\n<p>            <!-- Inline ads (all screen sizes) --><br \/>\n            <!-- Primis --><\/p>\n<p>            <!-- Inline ads (xs-lg screens) --><br \/>\n            &lt;!&#8211;<\/p>\n<div class=\"d-xl-none\">\n<div class=\"g-pt-30 g-pb-30 text-center\">\n                    Not in use\n                <\/div><\/div>\n<p>            &#8211;&gt;<\/p>\n<p>            <!-- Inline ads (xl screens) --><br \/>\n            &lt;!&#8211;<\/p>\n<div class=\"d-none d-xl-block\">\n<div class=\"g-pt-30 g-pb-30 text-center\">\n                    Not in use\n                <\/div><\/div>\n<p>            &#8211;&gt;<\/p>\n<p>As CryptoGlobe reported, Ripple committed 1 billion XRP to \u201caccelerate development and new use cases on the XRP Ledger\u201d by creating a new <a target=\"_blank\" href=\"https:\/\/www.cryptoglobe.com\/latest\/2022\/03\/ripple-commits-1-billion-xrp-to-create-new-use-cases-on-the-xrp-ledger\/\" rel=\"noopener\">fund that\u2019s an extension to its XRPL Grants<\/a> program, which was launched last year.<\/p>\n<p>Ripple is set to provide \u00a0\u201cfinancial, technical, and business support to introduce several new developer programs as part of the fund.\u201d The 1 billion tokens are set to be disbursed to developers \u201cover the next 10 to 20 years,\u201d to help developers build and scale their applications to businesses built on top of the XRP Ledger.<\/p>\n<p>It\u2019s worth noting Ripple is a for-profit company that helps promote and develop the XRP cryptocurrency, as well as the software behind it, the XRP Ledger. The firm leverages the XRP token through its RippleNet offering, which aims to provide banks with low-cost and simple cross-border transactions.\u00a0<a target=\"_blank\" href=\"https:\/\/ripple.com\/customers\" rel=\"noopener\">RippleNet\u2019s network<\/a>\u00a0includes American Express, Bank of America, Santander, and others.<\/p>\n<h2>Disclaimer<\/h2>\n<p><em>The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.<\/em><\/p>\n<h2>IMAGE CREDIT<\/h2>\n<p><em>Featured <a target=\"_blank\" href=\"https:\/\/pixabay.com\/photos\/coin-cryptocurrency-ripple-xrp-3786692\/\" rel=\"noopener\">image<\/a> via\u00a0Pixabay<\/em><\/p>\n<\/p><\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/www.cryptoglobe.com\/latest\/2022\/04\/ripple-develops-new-standard-to-allow-for-complex-nft-applications-on-xrp-ledger\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ripple, a popular fintech firm and a major player in the $XRP market, has announced it has developed a new standard, called XLS-20, to \u201chelp developers build more advanced and innovative NFT applications\u201d on top of the XRP Ledger. According to the company, the new XLS-20 standard will equip the XRP Ledger with the tools [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":13126,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[45],"tags":[416,6931,5278,283,307,265,1544,58],"class_list":["post-13125","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ripple","tag-applications","tag-complex","tag-develops","tag-ledger","tag-nft","tag-ripple","tag-standard","tag-xrp"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"http:\/\/egrowonline.com\/wp-content\/uploads\/2022\/04\/XRP-coin-768x512.jpg","_links":{"self":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/13125","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=13125"}],"version-history":[{"count":1,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/13125\/revisions"}],"predecessor-version":[{"id":13127,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/13125\/revisions\/13127"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/media\/13126"}],"wp:attachment":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=13125"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=13125"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=13125"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}