XRP Cafe, a top NFT marketplace on XRP Ledger, has shared important information about NFTs on XRPL.
According to XRP Cafe, new XRPL amendments with improvements to NFTs will be implemented in less than 24 hours. This is because the requirements have been met. The UNL vote has remained above the required 80% threshold for nearly two weeks.
The NFT marketplace is sharing a screenshot of the changes to be triggered, according to the leading explorer for XRP Ledger, XRP Scan.
On XRP Ledger, NFTs are built into the core protocol and unlike issued currencies (also known as native tokens), they do not require smart contracts for creation or transfer.
NFTs were standardized by XLS-20 in October 2022, introducing benefits such as royalties and anti-spam measures that help users avoid unwanted tokens while being compliant.
According to Ripple CEO Emy Yoshikawa, automatic royalties for NFTs on XRP Ledger are enforced at the chain protocol level, and creators are not at the mercy of individual marketplaces. The rights of token issuers are protected by XRP Ledger.
Since the introduction of NFTs in XRP Ledger in October 2022, amazing progress has been made.
In an XRPL Q2 report, Messari noted that the total number of NFT transactions was one of the few network activity metrics to grow each quarter.
The average daily NFT trade increased 12.7% QoQ from 13,800 to 15,500. Almost all NFT transaction types increased QoQ, while NFTokenCreateOffer’s dominance increased to more than 50% of all NFT transactions. At the end of the second quarter, a total of 1.6 million NFTs had been minted using the XLS-20 standard.
In another positive development, Bologna-based motorcycle manufacturer Ducati chose XRP Ledger (XRPL) last month to launch its first-ever Web3 digital collectibles.