XRP Ledger to aid Ducati’s entry into the NFT space; Details

Sahana Kiran
Source – Wallpaper Safari

The world has been veering into the NFT space. From fashion giants to prominent automobile manufacturers, non-fungible tokens [NFT] have been luring the world into the crypto-verse. Now, racing into the space was prominent Italian motorcycle manufacturer, Ducati. The firm has decided to employ the XRP Ledger to do the same.

Earlier today, a prominent blockchain company, Ripple took to Twitter and announced that Ducati Motor intends to step into Web3.

In the elaborate blog post, Ducati revealed that it had partnered with NFT solutions firm, NFT PRO. This platform is expected to aid in the curation of NFTs. XRP Ledger would come into play later.

All the NFT projects would be deployed employing Ripple. Furthermore, Tech support would be provided by the “ultra-fast, low-cost, and carbon-neutral” XRP Ledger.

The latest news doesn’t come as a surprise as the NFT industry has been quite popular among automobile companies. Earlier this year, Lamborghini, Mercedes Benz, Ferrari as well as others entered the market.

With its latest move, Ducati intends to introduce the brand to a whole new audience. Speaking about the same, the CEO of Ducati, Claudio Domenicali said,

“It also represents an opportunity to meet and make ourselves known to a new community of NFT enthusiasts, giving them the opportunity to live unique Ducati-style experiences and collect the digital assets that we will develop exclusively for this new dimension of the brand.”

Is XRP slowly taking over the NFT space?

The NFT space has been dominated by Ethereum [ETH]. Now, Solana [SOL], as well as Cardano [ADA], have been emerging as prominent networks in the NFT arena. Several prominent platforms have been diving into the market and employing Ripple’s XRP Ledger for the same.

Back in September 2021, Ripple rolled out a Creator Fund that set aside $250 million to aid the inclusion of creators in the NFT era. Following this, Ripple formed a plethora of high-profile partnerships.

More recently, prominent crypto trading platform, CrossTower also collaborated with Ripple. Through this partnership, the trading platform intends to add NFTs minted on the XRP Ledger to the CrossTower NFT marketplace.

With the rate at which Ripple seems to be moving, XRP Ledger could soon dominate the NFT space.