After the collaboration of Polygon and Meta, one more altcoin project from the top ten accelerates its work for the NFT sector. We may see new collaborations from Web3 and NFT fields in the coming days.
A well-established altcoin just announced its new NFT platform
Ranked seventh by market cap, Ripple (XRP) will work with Ethereal Labs to boost its new platform’s NFT capabilities. Ripple announced its “developer fund” to support its technology with digital art during the year. However, amid the recent market conditions, Ripple’s NFTs have also been left in the background. Despite the ongoing legal process with the SEC, the NFT field in particular has performed strongly. Now Ripple will work with an industry-experienced team to increase the utility and demand for NFTs.
Ethereal Labs is known for its partnerships with Toys R Us and Lionel Messi, among others. His team consists of respected players in Web3.0 with projects creating digital artworks. Co-founder Adrian Baschuk says a select few will leave because of the “keep-to-go” nature of digital art. According to Baschuk, leading artists will soon offer exclusive collections to Ripple users.
Altcoin analysts are optimistic about XRP price
FXStreet analysts expect a rebound for XRP price after the FTX crisis. After a long sideways period, the next target for XRP bulls will be $0.56. If the bulls can reach the $0.50 area, the price of XRP could climb as high as $0.56. However, a drop below $0.30 will invalidate the uptrend.
cryptocoin.comAs you follow, XRP price is currently trading at $0.3627.
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