Ripple’s digital ledger, XRPL, will be integrated into the Mintable network; an NFT marketplace.
As an NFT[non-fungible token] The market continues to grow at a rapid pace worldwide, with the market grossing $ 54 billion from mass consumption of NFTs just last year. The need for a cheap, secure, smooth and sustainable network is obvious.
Integration of XRPL into the Mintable platform:
Mintable, an NFT marketplace, is one of the few platforms that is actually working to make the creation and sale of NFTs safe and sustainable, with consumers facing the least burdens of gas fees and other relevant issues.
To support Mintable, the leading payment protocol Ripple is investing in the platform. Ripple will integrate its blockchain-based ledger XRPL into the network, which will make the marketplace much more efficient and sustainable.
What is XRPL:
Led by the global developer community, XRPL is a decentralized public blockchain. As noted in the announcement:
“with its innate performance benefits and integrated decentralized exchange (DEX) – is ideally suited to provide a seamless experience for NFTs.”
The integration of XRPL into Mintable will add a significant advantage to the platform as XRPL makes the marketplace ideal for creators who might be able to safely and sustainably create and sell, or buy and resell, NFTs.
Sustainability of XRPL:
Ripple, the creator of XRPL, claims that its network “ensures cost-effective transactions and a positive impact on sustainability“Because the grid only consumes 790,000 kWh per year, which is far less than any other electricity[proof-of-work] Network that consumes around 66 TWh of energy annually.
Additionally, the announcement stated that the XRPL was also offering low gas, which at that point had dropped to $ 0.00004.
Mintables Series A Funding:
Just a few days ago, the NFT marketplace announced the success of its Series A funding round, which raised $ 13 million. Several big names participated in the “oversubscribed funding”, including Ripple.