Ripple VP Excited as Japanese Giant Set to Utilize XRP Ledger for NFTs

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At the upcoming World Expo 2025 in Osaka, innovative technologies and advancements will be on full display, with XRP Ledger set to join in this technological spectacle.

Emi Yoshikawa, Vice President of Ripple, has announced her enthusiasm as SBI Group, a major Japanese financial institution, intends to employ XRP Ledger to create commemorative NFTs for an upcoming event. This development is a significant achievement for Ripple and represents broader advancements in the application of blockchain technology.

Yoshikawa, Ripple’sVP for Corporate Strategy and Operations, announced on social media the upcoming distribution of historic NFTs (MYUAKU-N) at the World Expo 2025 in Osaka, Japan. These NFTs will be minted on the XRP Ledger and given to millions of visitors during the expo’s run from April to October 2025.

Yes! This is going to be HUGE.

— Emi Yoshikawa {X} (@emy_wng) April 18, 2024

At the Expo, Yoshikawa provides more information about acquiring NFTs: You can obtain NFTs by attending the event and finishing tasks. Extra NFTs can be earned through the use of the Expo’s mobile payment application. Additionally, you have the ability to create your own NFTs.

The choice of SBI Group to create NFTs on the XRP Ledger is a significant move that has piqued the interest of the XRP community.

A vet who validates transactions on the XRP Ledger network named XRPL, expressed great joy upon learning that SBI plans to utilize this ledger for the first time at a major event like EXPO 2025 in Japan, by distributing NFTs to visitors.

This estimate suggests that approximately 28 million people could engage with XRPL NFTs, thereby enhancing their presence and enabling real-world applications. Unique features of XLS-20 NFTs, including the ability to set non-transferable flags, prevent resale, thus adding to their distinctiveness.

Yoshikawa agreed, emphasizing that the decision of SBI Group to use XRP Ledger for minting NFTs is a significant step.

Based on information from Bithomp, approximately 6.5 million NFTs have been created since the introduction of the XLS-20 standard. Of those, around 5.95 million currently exist, while there are a total of 6,577 issuers.

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2024-04-19 18:48