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Ripple VP Excited as Japanese Giant Set to Utilize XRP Ledger for NFTs

source-logo  u.today 19 April 2024 17:40, UTC

The next World Expo 2025 in Osaka promises to be a showcase of innovation and technology, and XRP Ledger is set to partake.

Ripple Vice President Emi Yoshikawa has expressed excitement as the Japanese financial giant SBI Group will be using XRP Ledger to mint visitor NFTs for the event. This move is a key milestone for Ripple and the wider usage of blockchain technology.

Yoshikawa, Ripple's VP of Corporate Strategy and Operations, took to social media to share the details of this historic milestone. Official NFTs ("MYUAKU-N") minted on the XRP Ledger will be distributed to millions of visitors at the World Expo 2025 in Osaka, Japan, which runs from April to October 2025, the Ripple VP wrote in a tweet.

Yes! This is going to be HUGE. https://t.co/Kkr9zH7yeA

— Emi Yoshikawa {X} (@emy_wng) April 18, 2024

Yoshikawa shares further details on the process of getting the NFTs: "You can get NFTs by visiting the Expo and completing missions. you can get additional NFTs by using the Expo mobile payments app. you can mint your own NFTs."

SBI Group's decision to use XRP Ledger for minting non-fungible tokens (NFTs) remains strategic and has caught the attention of the XRP community.

Vet, an XRPL dUNL validator, expressed delight that SBI is intending to use XRP Ledger for the first time at such a large event as EXPO 2025 in Japan by issuing visitor NFTs.

He adds that with an estimated 28 million attendees, this might increase the visibility of XRPL NFTs and the ability of its NFT functions to serve real-world purposes. Native features of XLS-20 NFTs, such as setting non-transferable flags, will be used, indicating that they cannot be resold, adding to their uniqueness.

Yoshikawa responded in the affirmative, indicating that the SBI Group's move to utilize XRP Ledger for NFT mints is a "huge" one.

According to Bithomp data, 6,508,659 NFTs have been minted since the XLS-20 standard debuted, with 5,954,017 in existence and 6,577 issuers altogether.