XRP Ledger-based NFT Marketplace XRP Café Receives a Nod From Ripple CTO
The recent tweet shared revealed that XRP Ledger-based NFT marketplace xrp café receives a node from Ripple CTO, David Schwartz yesterday.
The update came following the time when the marketplace unveiled that it had made many of its set milestones in the days prior which include a 1-of-1 NFT minter, XRP minting pages, and IPFS support.
Notably, 1-of-1 NFTs are single edition NFTs. Consequently, it is not part of a collection, and no other one of it exists.
IPFS is short for Interplanetary File System. It is used to store off-chain NFT data, serving as a pointer to this data and eliminating disputes over NFT ownership.
Ripple CTO, David Schwartz, Gives A Nod To XRP Ledger-based NFT Marketplace
Aside from the above mentioned, the Non Fungible Token marketplace shared data from Bithomp showing that it was presently the choice marketplace on the XRPL, accounting for over 50% of all XRPL NFT sales by volume this week and the most NFT sold by sheer numbers this month.
Per the Bithomp, it has accounted for 55.79% of NFT sales this week by volume, with 3,863 NFTs sold this month, only behind onXRP by sales volume.
Following the data shared by the Bithomp, Schwartz wrote, “Awesome!” quoting the tweet from xrp.cafe.
Notably, the project has been gifted $100,000 in funding from XRPL Grants in January.
Meanwhile, others responding to the development have attributed the recent successes to an enjoyable community experience.
It is worth noting that NFT surfaced on the XRP Ledger last October. it offers unique advantages as NFTs are less susceptible to attacks despite the network might be late to the scene and less likely to cause network congestion, and cheaper due to a “no-smart-contracts approach.”
Following the launching of the XRPL NFTs, the project has received a massive adoptions over the short period. As at last December, the project’s trade volume has bypassed 10 million XRP.
Furthermore, the developers have recently suggested a lighter-weight NFT standard to complement the XLS-20 standard and make NFTs simpler to use on the network.
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Dr. Olajide Samuel juggles the demands of medical studies with a passion for cryptocurrency. A seasoned blogger, Olajide shares his vast global knowledge of the crypto space, offering insights to enthusiasts. Despite his busy schedule, his commitment to crypto remains strong, and he actively seeks ways to contribute to its future.
