Ripple, one of the leading blockchain and crypto solutions providers, and CrossTower, a fast-growing trading platform in the crypto ecosystem, have recently announced a partnership to add non-fungible tokens minted on the XRP Ledger (XRPL) to the CrossTower NFT marketplace.
The latest announcement from CrossTower came approximately three months after Allbridge, a prominent cross-chain bridge, successfully integrated support for the XRP Ledger. In April 2022, Allbridge added XRPL as the 14th chain.
As far as CrossTower’s recent partnership with Ripple is concerned, the collaboration will facilitate the minting and trading of NFTs. It will also reduce the costs and barriers to entry for creators who are planning to mint their projects.
“We are thrilled to partner with Ripple and build our Web3.0 platform on the XRPL. Ripple’s commitment to building a developer network in India is particularly exciting for CrossTower as we are committed to developing India’s blockchain talent. We look forward to the growth of our global NFT platform,” Kapil Rathi, the Chief Executive Officer at CrossTower, commented.
In March 2022, Ripple announced its plan to accelerate XRP Ledger development and committed 1 billion XRP for the initiative.
NFT Space and XRP Ledger
The popularity of XRPL among companies working in the NFT ecosystem has increased significantly in the past few years. In the latest press release, CrossTower noted that the company’s marketplace will provide several engaging experiences to fans in the NFT space. Fans will be able to transact non-fungible tokens through credit cards and will be able to receive the assets via integrated wallets on the XRP Ledger.
“Having already broken ground in the NFT space, CrossTower is expanding its marketplace functionality to support XRPL which will significantly lower the costs and barrier to entry for creators who want to mint their projects on the blockchain best suited to enable settlement and liquidity of tokenized assets at scale,” CrossTower highlighted.
This article was written by Bilal Jafar at www.financemagnates.com.