Despite being embroiled in a heated legal dispute with the US Securities and Exchange Commission (SEC), Ripple (XRP) continues to expand.
XRP Ledger (XRPL) is now all set to integrate non-fungible tokens (NFTs), enabling XRPL users to mint NFTs on its blockchain.
NFTs can now be minted on XRP without impacting the network's security and stability.
Ripple (XRP) welcomes NFTs
XRP's NFT integration is finally live after being in production for nearly a year.
The new XLS-20 standard, which supports NFT integration on XRPL, was officially integrated into the network after receiving approvals from Ripple community members, according to the company's CTO, David Shwartz, on November 1.
From RippleX Developers:
XLS-20 (the standard for XRPL NFTs) presents a considerable milestone for developers and builders utilising the XRPL for their NFT projects and apps. The new standard introduces native non-fungible tokens (NFTs) on the XRP ledger to represent assets that are each unique, along with operations to enumerate, transfer, and hold such tokens.
The new NFT integration on XRP enables users to explore a variety of new features, including a mechanism that protects users' digital assets from potential hacks and scams.
The Ripple NFT integration comes with a no-smart contract approach that eliminates the risk of theft and laundering of digital goods.
The platform will further include a feature called 'automatic royalties' which will standardise royalty enforcement through the ledger’s built-in DEX (decentralised exchange).
Furthermore, any changes that will be incorporated into the blockchain in the near future will be determined by its participants, who will vote on behalf of the XRP ledger's best interest.
Ripple's CEO Brad Garlinghouse also took to Twitter to address the latest NFT integration on XRPL.
Get the latest news on Bitcoin, Ethereum, Luna and Shiba Inu.