Ripple’s XRP Ledger Goes NFT: SBI Launches Game-Changing World Expo 2025 Initiative!
The post Ripple’s XRP Ledger Goes NFT: SBI Launches Game-Changing World Expo 2025 Initiative! appeared first on Coinpedia Fintech News
Japan’s SBI Group has revealed a groundbreaking initiative involving the issuance of non-fungible tokens (NFTs) on the XRP Ledger for the upcoming World Expo 2025 in Osaka. This move, aimed at enhancing visitor interactions through blockchain technology, has caught the attention of the crypto community.
Ripple Partner SBI Holdings Takes the Lead
Japan’s SBI Holdings, a partner of Ripple, has begun minting NFTs for the World Expo 2025 on the XRP Ledger. This initiative is part of the “EXPO 2025 Digital Wallet” project, sponsored by SBI Holdings. Users can download the Myaku-N! digital wallet on iOS and Google to receive these free NFTs, which are limited to 500 users. These NFTs are commemorative, meaning they cannot be transferred or resold.
SBI’s crypto exchange business, SBI VC Trade, and NFT business, SBINFT, aim to offer this service to the 28.2 million visitors expected at the World Expo in Osaka, Kansai. The NFTs will be available for viewing until October 13, 2025, after which the digital wallet app service will be terminated
XRP NFTs Target 28 Million Visitors
Using Ripple’s XRP Ledger, SBI will distribute visitor NFTs featuring MYAKU-MYAKU, the official character of the Expo. Attendees can collect these digital collectibles by participating in Expo activities and using the Expo mobile app.
Emi Yoshikawa, Ripple’s VP of Corporate Strategy and Operations, described this initiative as a “huge” development for Ripple and the blockchain community. SBI has also announced additional gifts, lotteries, and prizes, including the “Myakumyakupon!” gift campaign.
The World Expo 2025, scheduled from April to October on an artificial island in Osaka Bay, is expected to attract around 28 million visitors globally. Historically, World Expos have showcased scientific, economic, and technological advancements.
Surge in Ripple Network Activity
There has been a noticeable surge in network activity on Ripple’s XRP Ledger, driven largely by NFT transactions. Since the launch of NFTs on Ripple’s XRP Ledger, there have been 699,590 NFT sales totaling $27.4 million. However, there has been a decline in sales since the fourth quarter of 2023.
Ripple Labs introduced the XLS-20 proposal in October 2022, allowing for the creation of NFTs on the XRP Ledger without smart contracts. This initiative aims to reduce the impact on XRPL performance and mitigate network congestion.
