XRP Ledger Clinches Spot in Top 10 NFT Platforms, Minting Over 1.4M NFTs -

XRP Ledger Clinches Spot in Top 10 NFT Platforms, Minting Over 1.4M NFTs

Antwan Koss
May 16, 2023
Blockchain, news, NFT
blockchain, nft, XRP Ledger
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In a surprising turn of events, the XRP Ledger (XRPL) has joined the elite league of the top 10 non-fungible token (NFT) blockchains. This milestone comes just six months after the launch of its native NFT feature, XLS-20, in October last year.

Rapid Growth in Half a Year

The speed of XRPL’s achievement is nothing short of impressive, with more than 1.4 million NFTs minted on the platform in a short span. RippleX, the team responsible for XRPL’s development, couldn’t hide their excitement, recently announcing the news via a tweet.

1/ XLS-20 went live on mainnet six months ago, bringing native NFT functionality to the #XRPLedger. The developer and creator communities have been thriving with exciting projects, new use cases and collections coming to life on the #XRPL. https://t.co/tmmb2vo31t
— RippleX (@RippleXDev) May 15, 2023

Bithomp’s Data Speaks Volumes

Bithomp’s data adds another feather to XRPL’s cap, confirming 1,410,636 NFTs minted and 792,288 NFTs transferred on-chain at the time of writing. The data spotlight also shines on onXRP, Sologenic, and xrp.cafe, which are the three leading NFT marketplaces on XRPL. These platforms are responsible for an impressive 80% of total NFT transactions on the network.

Top Issuers and Their Sales Volume

The Bithomp data also highlighted the top three NFT issuers in terms of sales volume, namely XPUNKS, Bored Apps XRP Club, and Xspector, out of the total 4,615 NFT issuers on XRPL. Among them, XPUNK played a pivotal role in the second-largest single NFT sale on XRPL.

NFT Sale Volume and Real-World Utility

The XRP Ledger has seen an impressive total NFT sale volume of $9.1 million, with onXRP being the major contributor, accounting for nearly half ($4.5 million) of the total volume. Additionally, NFT collections on XRPL have found their niche in various real-world applications, including loyalty programs, real estate, event ticketing, and concerts.

As the XRP Ledger community continues to innovate, its commitment to bolstering the use of NFTs for real-world utility remains unswerving. This achievement is just the beginning of XRPL’s journey in the NFT space, and the community has much more to look forward to in the coming months.

Also Read: Uniswap Labs Unveils New NFT Feature for Users to Browse and Mint NFTs

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Tags: blockchain nft XRP Ledger