Ripple, one of the biggest blockchain and crypto solutions providers, together with CrossTower, a fast-growing trading platform in the crypto sector, has announced a partnership aiming to add non-fungible tokens (NFTs) minted on the XRP Ledger (XRPL) to the CrossTower NFT marketplace.
This CrossTower announcement came around three months after Allbridge, a renowned cross-chain bridge managed to successfully integrate support for the XRP Ledger. Allbridge added XRPL as the 14th chain in April 2022.
With regards to CrossTower’s recent partnership with Ripple, the collaboration will help in facilitating the minting and trading of nonfungible tokens. It will also help in reducing the costs and barriers to entry for creators who plan to mint their projects.
In that context, the Chief Executive Officer at CrossTower, Kapil Rathi, commented:
“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.”
The crypto trading platform will leverage various features of the XRP Ledger. In March 2022, Ripple confirmed its plan to speed up XRP Ledger development and committed 1 billion XRP for that initiative.
NFT Space And XRP Ledger
XRPL’s popularity among firms operating in the NFT space has grown considerably in the past several years. In the most recent press release, CrossTower noted that the firm’s marketplace will offer many engaging experiences to fans in the NFT space.
Fans can transact NFTs through credit cards and can also receive the assets through integrated wallets on the XRP Ledger. All that is possible since CrossTower’s marketplace supports quick onboarding of NFT projects.
“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.”