The XRP ledger, or Ripple, is known for many things but not for its NFTs. However, the platform recently gained notoriety within the NFT community after one of its XRP NFTs sold for $44,000. This is an impressive achievement for a platform that is trying to get its footing in the trending NFT space.
The piece, dubbed “XRPL Punks,” sold for 108,900 XRP, equivalent to $44,000 at the time.
The #XRPL has a new record! An @XRPLPUNKS NFT just got sold for 108900 $XRP (44000 USD).
This is just the beginning for #NFTonXRP.— onXRP.com (@onXRPdotcom) November 25, 2022
According to the onXRP Twitter account, the sale was the result of an open auction of Xpunk#8811. However, the buyer was not revealed, but the individual is well-known within the XRPL Punks community.
Some of the popular collections on the platform include XRPL Punks or Xpunks. They were created as a tribute to the legendary CryptoPunks. Since the implementation of the XLS-20 this fall, the collection has traded over 1.7 million XRP.
Another popular collection is the Bored Ape XRP Club, created in tribute to the Bored Ape Yacht Club. It’s the second most popular NFT collection on the XRP ledger and has seen a trading volume of about 866,533 XRP so far.
The Xpunks record sale is welcome news for the XRP community, where good news is hard to come by these days. Ripple has been embroiled in a long battle with the SEC over the sale of its tokens. And the project itself appears to have stagnated, with not much going on. Despite all these tribulations, XRP remains a top-ten cryptocurrency with over $19 billion in market cap.
Ripple’s Commitment To XRP NFTs
In September last year, the project launched Ripple’s Creator Fund by committing $250 million. The fund is meant to “foster innovation in tokenization with a focus on non-fungible tokens.” That said, the fund is meant to attract top NFT talent to the platform. It provides support for creators,’ brands, and marketplaces to explore new use cases for NFTs on the XRPL.
Source NFT News Today
