December 6, 2022

RippleX Grants $2 Million to Promote NFT Solutions on the XRP Ledger

4 min read

Ripple may not be the most precious business in the crypto-verse, however its perseverance and desire to grow in spite of setbacks is something to be recognized. RippleX, Ripple’s branch concentrated on improving the advancement of innovations around the XRP Ledger, has just recently revealed its first wave of XRPL grants and it is accepting the NFT mania.

According to an official statement, RippleX distributed $2 million in overall worth among 25 picked candidates from 10 different nations.

NFTs Are The New Battlefront For Ripple’s XRP Army

The main focus of the applications was the advancement of open-source projects dealing with NFTs on the XRP Ledger or XRPL.

XRPL incorporates whatever we presently consider the XRP community and is a development of the former Ripple Consensus Ledger (RCL). Ripple’s previous products, xRapid, xCurrent, and xVia, were, in turn, combined into what is now known as the RippleNet, rapidly collecting over 200 consumers by 2019.

Although Ripple’s focus poing has actually for long been to offer a fast and inexpensive payment network, it seems that developers are looking for ways to squeeze the potential out of this blockchain and adapt it to the brand-new times. NFTs are an odd usage case for the XRP ecosystem, regardless of their appeal.

RippleX points out that it received over a hundred proposals however the most fascinating ones focused on the following topics:

  1. The development of NFTs for numerous industries (retail, art, music, sports, digital advertising, and carbon capture).
  2. Learning tools and platforms to build on and interact with the XRPL
  3. Information visualization tools
  4. Payment and security options

In the case of executing compatibility with NFTs, XRPL might significantly increase its user base and might even start serving specific business consumers in tactical locations such as identity digitization, advertising models, supply chain, etc.

. The Chosen Ones

These were the picked tasks. Every one got a different amount of cash:

Aquarelle: This task seeks to develop a metaverse on the XRP Ledger. The project intends to create an open-source NFT library, a web-based NFT marketplace, and a WebGL 3D virtual gallery to display and connect with NFTs.

Aquarelle is based in Australia but wants to communicate with content developers mainly from India.

Anchain.AI – – CISO™ Integration for the XRPL: This project focuses on using NFTs in cybersecurity to develop an expert system utilized by federal governments for compliance solutions. AnChain is based in the United States.

Bithompt: An XRPL explorer and toolkit that will be upgraded to have compatibility with NFTs. Bithomp lies in Sweeden.

CarbonLand Trust ESG NFTs = CO2 Bonds + Forest Conservation: A job that seeks to produce NFTs that represent rights on future carbon credits. It is based in the United States.

Clever.Gallery: An NFT gallery and market with NFT explorer functionality. It is based in the USA.

CryptoIso20022 Interop: A startup that seeks to automate the change of fiat to crypto payments. It is located in Switzerland.

Cryptum/ Blockforce: This job seeks to develop an API/SDK platform for incorporating the XRP Ledger with apps. It lies in Brazil.

DART: A digital art platform suitable with NFT on the Ripple Net. It likewise utilizes the XRP token as a method of payment in transactions. It lies in Sweeden.

Galaxy: An advertising platform constructed on the XRPL. It lies in the UK.

Go4Zerps: A Golang SDK to produce applications on the XRP Ledger. It lies in the UK.

Ledger City: A 3d visualization platform suitable with tokens on the XRP Ledger. Located in the USA.

Ledgr: An initiative that looks for to produce an XRP Ledger analysis tool for research, compliance, and threat management. Located in the Netherlands.

NFT Terrace:A platform that seeks to provide football clubs the ability to create NFTs on XRPL. Located in the UK.

Audiotarky: A Music streaming platform suitable with XRP. It will use the NFTs to disperse incomes. Found in the UK.

Peerkat: An NFT platform constructed on the XRP Ledger. Found in the UK.

Scratch2Hooks: An effort of the University of Luxembourg to develop clever agreements for the XRP Ledger. Found in Luxembourg.

Trustline:A startup that utilizes the Flare Network to move products between different blockchains. Found in the USA. An NFT marketplace. Found in Switzerland.

Xchange Retail Payments: A DEX/ XRP Ledger Gateway. Found in the UK.

xPay: A startup that facilitates XRP transactions through iMessage. Located in the USA.

Node-RED:A Visual programs tool focused on XRPL solutions. Located in UK

XRPL Rosetta: An XRPL explorer. Located in Chile.

XRP Wallet Tools: a WebApp with assistance for the production of NFTs in XRPL. Located in the Philippines.

ZerpCraft:A plugin that will allow the creation of NFTs to represent virtual Real Estate in Minecraft. Located in the USA