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NFTs on XRP gain traction but still trails behind other NFT platforms

NFTs on XRP gain traction but still trails behind other NFT platforms

Today, Kaj Leroy, the founder of Bithomp and the XRPL-based NFT marketplace onXRP, said that their platform had reached an amazing 7.3 million XRP (about $2.45 million) in sales volume, making it the most popular platform ever on the XRP Ledger. Has turned into a market NFT. xrp.cafe comes in second with an impressive 434,000 XRP ($146,000), and xMart comes in third with 57,003 XPR ($19,184).

Unlike Xrp.cafe (which has sold 2,451 NFTs) and xMart (which has sold 211 NFTs), the onXRP marketplace has already sold an impressive 21,469 artifacts. The marketplace’s launch of an exclusive set of Xcoins is a big reason why OnXRP has been so effective. Bithomp says that 337 Xpunks that look like Cryptopunks NFT have been traded for a total of 603,792 XRP ($203,000).

NFTs on XRP gain traction but still trails behind other NFT platforms

Revelers was the most popular and profitable NFT collectible, with 1,098 sales worth a total of $191,320. Second is xSPECTAR ($173,610 for 629 pieces), and third is Bored Apps XRP Club (397 tokens, to be exact – $155,300 worth).

NFTs are still in their early stages on the XRP ledger

When NFTs are looked into more, it becomes clear that digital art on the XRP ledger is still in its early stages. Stockwits data shows that Ethereum is the clear leader, with a 24 hour trading volume of $18 million, followed by Solana at $3.1 million and Sorare at $695,000. But IMX and Cardano have done much better than XRP, which only made $36K during the same time period and is now the worst blockchain.

In the last 24 hours, art collectibles based on XRPL have become one of the top 10 most popular NFT collectibles on all blockchains. Bored Ape Yacht Club is in first place with an impressive $1.9 million in trading volume. Xpunkx is still in seventh place with a small but important $5,500 in trading volume.

Schwartz is the CTO of Ripple. He thinks that NFTs can be used for more than just digital artifacts. The tech giant’s $250 million NFT fund is now helping projects in the ticketing, music, and film industries that show how this technology can be used in new ways.

Schwartz says that the XLS-20 was made so that projects outside of Ripple could use its technology and take advantage of its low fees and stable network.

About Tina

Tina concentrates on all matters related to NFT and Web3. Tina uses social media to spot NFT trends and report unique news.

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