Ducati announces release of NFT collection on XRPLedger, XRP sees wider adoption in web3
- Ducati announced the launch of its first digital collectible on the XRPLedger, entering the web3 race with XRP.
- XRPLedger’s XLS-20 standard facilitates the rollout of such projects that make XRP relevant in the web3 ecosystem.
- Following Ducati’s lead, high-end brands are likely to deploy their digital collectibles and create aggregation spaces on the XRPL.
Ducati, an Italian motorcycle manufacturer, announced the launch of its first-ever digital collectibles on the XRPLedger. The brand chose XRP through the XLS-20 standard to expand its footprint in the web3 ecosystem.
The move is likely to drive the adoption of XRPLedger’s native token XRP and catalyze the altcoin’s recovery in the long term.
Also read: Pro-XRP John Deaton argues SEC vs Ripple ruling is sound, cites Celsius bankruptcy example
XRPLedger’s adoption is bullish for native token XRP
The XRPLedger (XRPL) was created in 2012 specifically to facilitate payments in XRP. The blockchain can settle transactions involving the XRP token within three to five seconds. In July 2022, developers proposed the XLS-20 standard to facilitate NFTs on the XRPL and drive XRP adoption in the web3 ecosystem.
Ducati’s collectibles launch will be made possible through the XLS-20 standard on the XRPL blockchain.
Entering web3 is another way to get closer to the Ducatisti community by further extending the number of services offered to them. It also represents an opportunity to meet and make ourselves known to a new community of NFT enthusiasts, giving them the opportunity to live unique Ducati-style experiences and collect the digital assets that we will develop exclusively for this new dimension of the brand.
Ducati CEO Claudio Domenicali said.
XRP is positioned to gain stronger foothold in the web3 ecosystem
Ducati’s partnership could be the first of many for XRP as brands innovate in the web3 ecosystem. Ripple is one of the contributors to the XRPLedger, running six of the thirty five unique validator nodes in the blockchain network.
NFT collections continue to drive activity on the XRPL, and since the XLS-20 standard went live, over one million assets have been minted on the ledger.
Trending collections on the XRPLedger from 3zyconnect
The XLS-20 has powered these NFT collections on the XRPL, all functionalities like minting, trading, burning and automatic royalties are handled by XRP’s blockchain.
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Author
Ekta Mourya
FXStreet
Ekta Mourya has extensive experience in fundamental and on-chain analysis, particularly focused on impact of macroeconomics and central bank policies on cryptocurrencies.
