Ripple sets new record with 108,900 XRP spent in XRPL NFT sale
- XRPL Punk’s NFT collection makes record sales and hits a new milestone for the XRP Ledger.
- XRP Ledger pushes for more NFT adoption through The $250 million Ripple Creator’s Fund.
Recently, XRP Ledger achieved a new milestone in terms of the total number of NFT sales on the platform. According to data provided by XRPL-based modular ecosystem – onXRP – one of the NFT collections “XRPL Punks” sold items for 108,900 XRP, which is equivalent to and worth $44,000.
The official Twitter account of onXRP noted that the sale was the result of an open auction of Xpunk #8811. The platform did not reveal the name of the buyer, but stated that this person is well known in the XRPL Punks community.
The #XRPL has a new record! An @XRPLPUNKS NFT was just sold for 108900 $XRP (US$44,000).
This is just the beginning for #NFTonXRP.— onXRP.com (@onXRPdotcom) 25 November 2022
The XRPL Punks collections also called Xpunks were created as a tribute to the already legendary non-fungible CryptoPunks collectibles. It is also one of the hottest NFT collections on the XRP Ledger.
Following the application of the long-awaited XLS-20 change to the XRP Ledger this fall, Xpunks has traded a total of 1.78 million XRPs so far.
Another most popular collection on the XRP ledger is a reference to the legendary NFT collection, Bored Ape Yacht Club. Dubbed as the Bored Ape XRP Club, it ranks second after Xpunks, with a turnover of 866,533 XRP.
Ripple’s Push for Non-Fungible Tokens (NFTs)
Playing in the NFT space, Ripple has launched a $250 million Creator’s Fund to bring major NFT projects to the XRP Ledger. Earlier this month, Ripple collaboration with Ethereal Labs to strengthen the Web3 ecosystem by bringing NFTs and crypto-assets to the masses via the XRP Ledger, custom partnerships and collaborations.
The goal behind this partnership is to increase Ripple’s NFT strategy and thus bring NFTs to a larger audience.
While Ripple continues to lock horns with the US SEC over the securities battle for XRP, the company has continued to work on other aspects of its ecosystem. However, this ongoing legal battle with the SEC may play a spoil sport for Ripple now.
As we know, Ripple has presented its XRP solutions to banks for instant cross-border settlements worldwide. However, banking giant JPMorgan, which is actively working on blockchain solutions, chose MATIC and AAVE to settle currency transactions between USD and JPY.
Following this development, crypto influencer Lark Davis asked the value proposition for XRP. Responding to that, CryptoLaw founder John Deaton said that the fact that XRP continues to be among the top ten digital assets against all odds speaks to its success. He also lashed out at Davis for undermining XRP simply because JPMorgan chose other digital assets.
In another win, Australia’s biggest financial conglomerate CommBank said it would spend Ripple’s XRP standard for cross-border payments.
