The 2025 World Expo in Osaka, Japan, is shaping up to be a showcase of cutting-edge technology, and the XRP Ledger will play a pivotal role.
Emi Yoshikawa, Ripple’s Vice President of Corporate Strategy and Operations, has expressed excitement about Japanese financial giant SBI Group’s decision to use the XRP Ledger to mint commemorative NFTs for visitors to the Expo.
Read Also: Japan’s Prominent Financial Giant SBI Group Set to Launch Shiba Inu (SHIB) Trading on SBI VC Trade
NFTs Enhance the Expo Experience
“Official NFTs, which we’re calling ‘MYUAKU-N,’ will be distributed to millions of visitors on the XRP Ledger throughout the World Expo 2025 in Osaka,” Yoshikawa shared in a tweet.
Attendees can earn these NFTs through several ways, including visiting specific Expo venues, completing missions, or using the Expo’s mobile payment application. Additionally, visitors have the exciting opportunity to mint their personalized NFTs.
Yes! This is going to be HUGE. https://t.co/Kkr9zH7yeA
— Emi Yoshikawa {X} (@emy_wng) April 18, 2024
Significance for XRP and NFT Adoption
SBI Group’s strategic choice to utilize the XRP Ledger has resonated positively within the XRP community. Vet, an XRPL dUNL validator, believes it could be a catalyst for XRPL’s growth, in his words “With an estimated 𝟮𝟴𝗠 𝗮𝘁𝘁𝗲𝗻𝗱𝗲𝗲𝘀 that’s a lot of eyeballs to increase the visibility of XRPL NFTs and the ability of it’s NFT functions to serve real-world purposes.”
The commemorative NFTs will further incorporate unique features enabled by the XLS-20 standard. SBI will leverage “non-transferable” flags, ensuring the NFTs cannot be resold, and maintain exclusivity. Yoshikawa confirmed the importance of this approach, describing SBI Group’s move as “huge.”
Read Also: Major Japanese Financial Institution Adopts XRP for Global Money Transfers
Spotlight on SBI Group
SBI Group is a major player within Japan’s financial sector, known for its innovative spirit and early investments in blockchain technology. Its choice of the XRP Ledger for the World Expo NFTs reflects confidence in its efficiency, scalability, and security. This high-profile collaboration further cements XRP Ledger’s position as a robust solution for NFT issuance, particularly in large-scale use cases.
We are on twitter, follow us to connect with us :- @TimesTabloid1
— TimesTabloid (@TimesTabloid1) July 15, 2023
Growth of NFTs on XRP Ledger
Bithomp data highlights the burgeoning growth of NFTs on the XRP Ledger since the XLS-20 standard was introduced. Over 6.5 million NFTs have been minted on the ledger, exceeding 5.9 million in current circulation, created by approximately 6,600 issuers. This activity underscores the potential of the XRP Ledger for innovative NFT projects.
Follow us on Twitter, Facebook, Telegram, and Google News
