The Ripple (XRP) team continues to work on tokenization close to NFT standards. The team is planning to add additional tokenization features by adding this update to the system that is already in Ripple's infrastructure with a software version update.
Ripple conducts and tests its work on NFT-Devnet. In addition, there is no such study in the crypto market yet, and if it does, the additional tokens obtained will be the closest featured token to NFT. With this project, Ripple thinks it will inspire other industry leaders with additional tokenization in XRPL.
Launched in January 2022, NFT-Devnet is known as a beta platform created to improve NFT support in XRPL. In addition, the company created Ripple's Creator Fund with $250 million support to explore the endless world of NFT, explore its limits and increase its usability in the company.
The Ripple Creator Fund says it has received nearly 4,000 project applications on the use of metaverse and NFT. XRPL, on the other hand, is gradually spreading to the market in this process and has taken its place in digital markets such as Mintable, mintNFT, NFT PRO, Ethernal Labs and onXRP.
Ripple is also increasingly promoting its CBDC initiative, known as the Central Bank Digital Currency. The Digital Euro Association (DEA) lists Ripple as a supporting partner, thus giving Ripple the opportunity to work on a CBDC demo. In addition, the DEA states that the Ripple team is an expert in the field of central bank digital currencies and honors Ripple by choosing it as a gold support member. In the past, Ripple has also established partnerships on behalf of CBDC in Bhutan and Palau and continues to discuss partnerships that may occur in this field around the world.
On the other hand, Ripple, whose lawsuit with the SEC continues, is now waiting for the lawsuit to be completed by the end of March. Therefore, Ripple investors are waiting to breathe easy with the net result that may come.