Ripple’s digital ledger, XRPL to be integrated into Mintable Network; an NFT marketplace.
As the NFT[non-fungible token] market continues to expand at a rapid pace, all around the globe, with the market fetching $54 billion through mass consumption of NFTs just last year, the need for a cheap, secure, frictionless, and sustainable network is self-evident.
Integration of XRPL in Mintable platform:
Mintable, an NFT marketplace, is one of those few platforms that are actually working to make the creation and sale of NFTs secure and sustainable, with consumers bearing the least burden of gas fees and other relevant hassles.
To support Mintable, the leading payment protocol Ripple is making the investment into the platform. Ripple will integrate its blockchain-based ledger, XRPL, into the network that will make the marketplace much more efficient and sustainable.
What is XRPL:
Lead by the global developer community, XRPL is a decentralized public blockchain. As the announcement noted:
“with its innate performance advantages and built-in decentralized exchange (DEX)—is ideally suited to deliver a seamless experience for NFTs.”
The integration of XRPL into Mintable will give the platform a significant edge as XRPL will make the marketplace ideal for Creators that could, resultantly, be able to create and sell or purchase and resell the NFTs securely and sustainably.
Sustainability of XRPL:
Ripple, the creator of XRPL, claims that their network “ensures low-cost transactions and positive implications for sustainability“, as the network consumes only 790,000 kWh per year that is far less than any other pow[proof-of-work] network which consumes approximately 66 twh of energy per annum.
Moreover, the announcement noted that the XRPL also offers a low gas which, at this point in time, is down to $0.00004.
Mintable’s Series A funding:
Just a couple of days back the NFT marketplace announced the success of its Series A funding round that secured $13 US million. The “oversubscribed funding” saw the participation of multiple big names including Ripple.