8th largest cryptocurrency by total market capitalization XRP, In 2021, it suffered a serious loss of reputation and value. XRPIt is known that . was shaken especially by the securities lawsuit filed, but new breakthroughs can prevent this. One of the breakthroughs in question is the inclusion of XRP and the XRP network in the new NFT trend.
NFT Support Coming to XRP Network
As the NFT market continues to become more popular with each passing minute, XRP developers and their team could not remain indifferent. XRP Ledger It has been about 7 months since the first announcement of the NFT platform on the website, and the RippleX team has almost completed it.
It is known that many people have been waiting for this NFT integration since May 2021, and the expected good news has finally been given. RippleX announced the XLS-20 development network and stated that the work on this NFT-focused development network has officially started.
I know how long people have waited for this so I’m to let everyone know that the XLS-20-based NFT-Devnet is now available for anyone who wants to begin testing the proposed native NFT extensions to the XRPL.https:/ /t.co/x1woWF3eDY
— 𝙽 𝙸 𝙺 𝙱 (@nbougalis) January 11, 2022
The development network named XLS-20 will work as a side network on the XRP Ledger and will provide NFT support. For this, it is necessary to have smart contract support. The NFT-focused development network is currently in beta and developers are testing different NFT functions. It is also stated that Ripple’s NFT platform will have much different functions than the NFT functions in other networks.
Although the network is not currently available to users, it certainly appears to be an important step forward. The $250 million fund that Ripple announced months ago for NFT artists and blockchain developers seems to have worked here as well.