XRPL validators have extended their support to an NFT-focused amendment dubbed XLS-20. Announcing the same, Ripple’s top exec Emi Yoshikawa stated the proposal received the overwhelming support of 80% over a two-week period, signaling its approval.
The amendment which would allow the native non-fungible tokens [NFTs] on the XRP Ledger was voted down by seven validators at the time of publishing this post.
Back on July 6, 2022, Ripple’s General Manager Monica Long spoke about the functionality of XLS-20 on XRPL, and the role of NFTs in the path to sustainability.
This XLS-20 standard was first proposed by Ripple and is now lined up for approval from XRPL validators. If passed, the amendment is intended to make NFTs creation on the XRPL compact and efficient, while reducing any negative impact on Ledger’s performance as well as avoiding congestion at scale.
Long also explained that with XLS-20, developers can create NFTs without the additional security risks and complexities making less room for error. On top of that, it comes with smart contracts since XRPL does not require them to run to accomplish many tasks, she added.
With features like minting and auctioning built into the standard, XLS-20 seeks to bring significant ease to the developer’s creation process.
In terms of Sustainability, the exec asserted that the blockchain firm is committed to carbon neutrality by 2030 and has pledged $100 million toward carbon market investments in May this year. These measures make the XRP ledger, the world’s first major carbon-neutral blockchain, Long claimed.
XRPL’s Creator Fund Has Drawn 4000 NFT Enthusiasts
It is worth recalling that in Sept 2021, the leading crypto solutions provider launched its native Creator Fund, pooling resources worth $250 million to attract creators in bringing their NFT projects to promote on the XRP Ledger.
As of now, it has successfully onboarded close to 4000 artists, musicians, game designers, and builders under various NFT projects.
Among the artists on deck are the author and producer Justin Bua, filmmaker Steven Sebring and xPunks. The initiative has also brought several marketplaces and creative agencies, such as Mintable, MintNFT, VSA Partners, NFT PRO, Ethernal Labs, and onXRP, to come together and connect the assemblage of diverse artists.