Ripple and XRP have been making headlines a lot these days, and this was mostly due to the issues that the two entities have with the SEC.
It’s been just reported that XRPL Labs’ Hubert Getrouw explained the ways in which the XRP Ledger is getting ready to accommodate NTFS into the network.
The online publication the Daily Hodl notes that the leading NFT marketplaces like Rarible (RARI) or OpenSea currently require the use of an Ethereum wallet, but in an interview with crypto Eri, Getrouw said that when the XRP Ledger starts facilitating NFT transactions, users will be able to buy and sell them using XRP and other assets instead of relying solely on Ethereum (ETH).
“You can pay with XRP because you’re on the XRP Ledger. So you have the DEX, the XRPL DEX, the decentralized exchange, and there you could trade your NFTs for XRP… You can purchase it with any fiat you want or any asset that you want and also at a very high speed and no high transaction cost,” he said, as cited by the online publication mentioned above.
Three ways to make an NFT on the XRP Ledger
Getruow explained that there would essentially be three ways to make an NFT on the XRP Ledger.
He said that “You have three ways of actually making those NFTs. One of the ways is you use one address, and later you blackhole it, so that means you can’t make another token. So you can make another token, but that’s not really maybe the way you want to go because you have to create a new account every time you want to make an NFT.”
We suggest that you check out the complete interview in the video above in order to see what more he had to say about the issue.
Stay tuned for more Ripple-related news.