Michael Jordan’s Non-Fungible Tokens (NFT) To Be Developed on Ripple’s XRPL
Michael Jordan’s Non-Fungible Tokens (NFT) Will Be Available on Ripple’s XRPL in Q2 2022.
https://twitter.com/Ripple/status/1512166656520372228
The use of Ripple’s XRPL in the production of innovative non-fungible tokens continues to grow at a breakneck pace.
Ripple, the world’s most well-known blockchain business, has announced that Rare Air Media and VSA Partners will collaborate to create a unique set of non-fungible tokens (NFTs) on the XRP Ledger (XRPL).
The collaboration will result in the creation of a one-of-a-kind digital collectible chronicling former NBA superstar Michael Jordan’s life and career.
According to today’s announcement, the first set of NFTs will be available in the second quarter of 2022 and will comprise a selection of rare, monumental, and original shots of the NBA great, as well as his own thoughts captured moments before the photoshoot.
NFTs are gaining traction in a variety of applications.
Following the technology’s creation, NFTs have gained significant use, particularly among players in the entertainment and sports industries.
Popular celebrities such as Snoop Dogg, LeBron James, Paris Hilton, Madonna, and Neymar Jr. have all invested in various NFT industries, indicating that the new asset class’s application is limitless.
Ripple’s Commitment to Adoption Fostering
With the increasing usage of non-fungible tokens, Ripple entered the field to make it easier for developers to create their NFTs or immerse themselves fully in the metaverse.
Ripple recently announced the first recipients of its $250 million Creator Fund, which was established to support developers of non-fungible tokens wishing to build on the XRPL.
Apart from the Creator Fund, Ripple has continued to entice NFT developers to build on XRPL due to the multiple options enabled by the platform.
NFT creators can leverage Ripple’s XRPL to benefit from the technology’s speed, low-cost transactions, sustainability, and simplicity.
Meanwhile, Ripple handed Feeturre music marketplace a $100,000 grant last month in order to enable the initiative to produce non-fungible tokens on XRPL.
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