Ripple partners with Ethereal Labs to offer NFTs: What can we expect?

November 15, 2022

By Sharan Kaur Phillora

Ripple has joined hands with Ethereal Labs to bring NFTs to the masses in a move that is a marked departure from its typical fare. According to an Ethereal Labs executive, enabling Web 3.0 and NFT capabilities on XRP Ledger will allow users to access a “proven NFT platform”, which simple isn’t true, although the partnership does come after Ripple birthed the Creator’s Fund to support digital artworks on its ledger.

Here’s what we know:

Details about the partnership disclosed that the two tech firms will also work together to net more partnerships to help popularize XRP Ledger-powered NFTs. Ethereal Labs is a respected player in the Web 3.0 space having helped create virtual artworks for Lionel Messi and Toys R Us among other firms.

According to Ethereal Labs CCO Adrian Baschuk, virtual artworks have for a long time remained a privilege of a select few due to their “siloed” nature. Baschuk revealed that Ripple users will soon see tangible results including accessing “customized collections with leading artists and IPs.”

David Schwartz, CTO at Ripple, hinted at the possibility of FTX employees pursuing a career at the cross-border payment settlement firm. Schwartz made a similar offer to Twitter employees. 

Analysts evaluated the XRP price chart and predicted a rally in the altcoin. After trading sideways for a long time, XRP could break out to the $0.56 level. If bulls push the XRP price to the $0.50 zone, a run to the $0.56 level is likely. If XRP price nosedives below $0.30, it could invalidate the bullish thesis and trigger a further decline.

About the author

Sharan Kaur Phillora’s thirst for knowledge has led her to study many different subjects, including NFTs and Blockchain technology – two emerging technologies that will change how we interact with each other in the future. When she isn’t exploring a new idea or concept, she enjoys reading literary masterpieces.

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