In addition to its ongoing litigation with the SEC, Ripple has been working to expand its brand influence within the cryptosphere. The company that entered the NFT market just partnered with crypto-asset trading platform Crosstower. The latter will now support NFTs created on fintech blockchains to promote them to the market. Details follow.
Integration of XRP Ledger with Crosstower
An ultra-fast, carbon-neutral and particularly profitable blockchain, the XRP ledger will now be used to embed NFT projects in the Crosstower Marketplace. In addition to providing greater visibility to NFTs designed on the blockchain, Crosstower will also allow its users to access new features. They can now go ahead minting Low cost NFTs on the XRP ledger.
Ripple’s blockchain is expected to significantly improve the digital shopping experience, Thus allowing users to buy and sell NFTs via credit card. Purchased assets can then be accessed through integrated wallets to facilitate trading on Cross Tower.
” Ripple’s commitment to building a network of developers in India is particularly exciting for Crosstower, as we are committed to developing India’s blockchain talent. We look forward to growing our NFT platform said Kapil Rathi, CEO of Crosstower. He added that the integration of the XRP ledger will accelerate his company’s expansion.
A partnership that intervenes in the context of recession in the NFT market
Despite the obvious benefits, it is not hard to imagine Ripple taking a risk by developing NFT functionalities in the current context. In fact, the NFT market is in a bearish phase with extremely low trading volumes.
The data platform NonFungible was recently released That NFT sales have dropped 50% in the last 30 days. Since the great success of the NFT market was largely driven by speculation, the crypto winter took away most of the investors who were interested in it.
This partnership proves once again that Ripple is still hungry for expansion, even if the timing doesn’t necessarily seem favorable for the fintech to take the NFT market by storm. This will allow enthusiasts still present in this market to test and adopt the NFT features of the XRP Ledger Meanwhile, fintechs continue to question the SEC’s expert reports in a lawsuit opposing the US regulator.
Source: Watch Guru
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