Sales of the XRPL Punks NFT collection set new records, marking an important achievement for the XRP Ledger.
The $250 million Ripple Creator’s Fund is being promoted by The XRP Ledger to encourage more NFT usage.
In terms of the overall volume of NFT sales on the platform, the XRP Ledger recently hit a new milestone. According to information released by the XRPL-based modular ecosystem onXRP, one of the NFT collections called “XRPL Punks” sold products for 108,900 XRP, or $44,000, in value.
The sale was the result of an open auction held by Xpunk #8811, according to the official onXRP Twitter account. The platform withheld the buyer’s name but revealed that they were a well-known figure in the XRPL Punks scene.
The iconic non-fungible CryptoPunks collectibles served as inspiration for the creation of the XRPL Punks collections, also known as Xpunks. On the XRP Ledger, it is also one of the most popular NFT collections.
The XLS-20 update was applied to the XRP Ledger this fall, and since then, Xpunks have traded a total of 1.78 million XRPs.
The Bored Ape Yacht Club, which is a nod to the storied NFT collection, is another of the most well-known collections on the XRP ledger. The Bored Ape XRP Club, with a turnover of 866,533 XRP, comes in second place after Xpunks.
The Push by Ripple for Non-Fungible Tokens (NFTs)
A $250 million Creator’s Fund has been established by Ripple, a player in the NFT market, to attract major NFT initiatives to the XRP Ledger. Ripple and Ethereal Labs joined forces earlier this month to strengthen the Web3 ecosystem by making NFTs and crypto assets widely accessible through the XRP Ledger, customized partnerships, and collaborations.
This alliance aims to strengthen Ripple’s NFT strategy and increase public awareness of NFTs.
While the securities dispute for XRP between Ripple and the U.S. SEC continues, the business has continued to work on other components of its ecosystem. However, Ripple may currently be suffering because of this continuing legal dispute with the SEC.
Ripple has been promoting its XRP solutions to banks for rapid cross-border settlements globally, as is well known. However, the world’s largest bank, JPMorgan, chose MATIC and AAVE to settle USD to JPY FX transactions while actively developing blockchain solutions.