By Alicia Maher
Ripple has revealed that its XRP ledger has been upgraded to version 1.9.0. This new version includes an amendment of the XRP ledger protocol to provide native support for NFTs based on the XLS-20 draft standard.
The Validation Process Is Currently In Progress
Part of the release notes, as seen on Twitter, states that the Ripple community can now vote on the amendment in line with the XRP ledger amendment process. This process authorizes network changes so long it receives over 82% of votes from trusted validators within two weeks from the start of the voting process.
If the Ripple community approves this upgrade, Ripple developers can incorporate advanced NFT features, which would enable users to mint, transfer or burn NFTs via the XRP ledger. While commenting on the upgrade, Ripple’s CTO David Schwartz said, “temporarily, Ripple’s validators will prohibit the inclusion of the XLS-20 on the mainnet until we are convinced about NFTs’ effect over the XRPL. Nevertheless, we will keep testing and communicating what we find with the wider ecosystem.”
He added that “as a long-term participant of the XRPL community, we are excited that we can provide our input towards the incorporation of NFT technology on the XRP ledger. Our actions prove our commitment towards the scalability and stability of the XRPL.”
The CTO also said, “in the end, the entire XRPL community will determine the results of the XLS-20 even though several performance improvements have been included in this release.” As previously reported in various media, Ripple recently released the names of beneficiaries from its $260m creator fund.
The creator fund is a pool of funds from Ripple investors to assist NFT creators intending to mint their digital works on the XRPL. This fund is one of several methods Ripple uses to entice NFT creators to launch their digital works on the XRPL.
Rare Air Media Makes A Foray Into The NFT Space
Rare air media (the firm responsible for launching NBA legend (Micheal Jordan) ‘s autobiography has announced its foray into the NFT space. Rare air media will partner with VSA partners to launch NFTs on the XRP ledger. Visa partners is Ripple’s primary creative agency partner with the media company revealing that some of the NFTs it intends to launch will include unique digital collectibles from the life and career of the former NBA star.
The company disclosed that it hopes to launch its NFT series by June 2022. It further confirmed that these first NFT series would include selected top shot moments from Micheal Jordan’s career, including his comments about each of these moments.
Players in the media and entertainment seCTOr continue to dominate the NFT space. Apart from Micheal Jordan and Lebron James (who are top athletes), Snoop Dogg and Paris Hilton are famous artists who have also embraced the NFT technology. Some top brands such as Disney and the Grammy’s are also not left behind in making a foray into the NFT space.