menuIcon
$ 94,110.4
BTC
$ 94,110.4
-2.11 %
$ 1,791.74
ETH
$ 1,791.74
-2.53 %
$ 0.6714
ADA
$ 0.6714
-5.12 %
$ 586.81
BNB
$ 586.81
-2.22 %
$ 143.32
SOL
$ 143.32
-2.56 %
Jafrin Ahmed
Jul 15, 2022
by Jafrin Ahmed

Ripple-Based NFT Master Allows Users to Purchase, Mint, Sell, Burn NFTs

NFT Master Ripple

Table of contents

  1. Ripple's Strive Towards NFT Development
  2. Brands Rushing to Launch NFTs on XRP Ledger
A new NFT marketplace built on Ripple called NFT Master allows users to purchase, mint, sell, and burn non-fungible tokens (NFTs). The firm officially made the announcement today after establishing the platform on the Ripple XLS-20 Devnet.

Ripple's Strive Towards NFT Development

To support NFTs on the XRP Ledger, Ripple introduced a new amendment XLS-20 at the beginning of this year for developers to mint, transfer, and burn NFTs including testing performances.

The distributed ledger company also recently announced a new standard called wXLS-20, which allows the creation of sophisticated NFTs on the XRP Ledger. The project has undergone and passed successful testing.

The new standard will not only assist in the process of developing apps, but will also enable users to carry out the process in a timely, cost-effective, and uncomplicated manner.

The blockchain company previously established a fund worth $250 million to begin its NFT program and promote XRPL for NFT developers.

Brands Rushing to Launch NFTs on XRP Ledger

XRP Ledger is striving to become one of the most well-known platforms for brands to deploy their NFT own projects.

For instance, just a month ago, Automobile manufacturer Lotus Cars announced plans to launch their very own NFT collection and said that they will be basing their collection on XRPL as well.

Similarly, Italian motorcycle manufacturer Ducati announced this week to launch its first NFT collection in partnership with NFT PRO and Ripple.

Follow us on: News
NFT Master Ripple Ripple Burn NFT
Ripple-Based NFT Master Allows Users to Purchase, Mint, Sell, Burn NFTs
Jafrin Ahmed
Jafrin is a cryptocurrency journalist/researcher fascinated by the world of decentralization. She is hopeful towards blockchain’s innovation and its potential to reshape the world for good. Currently, she is bringing out the best of cryptosphere via covering the latest ins and outs of the blockchain space.

Top Picks