Ripple is working with FLUF World to bring XRP Ledger to altcoin project Root Network. Keep reading us for details.
What does Ripple and FLUF World partnership aim for?
Ripple is going further to support the adoption of its flagship crypto XRP. The company is now getting into real NFTs by partnering with FLUF. RippleX made a post on the subject from its Twitter account. The announcement included the following statements:
We are partnering with FlufWorld to bring The Open Metaverse to life. The Root Network will be built on XRPL with XRP as a native asset. On top of that, it will allow metaverse projects to print NFTs and buy/sell/trade in-network tokens.
FLUF World runs The Root Network, a blockchain-based NFT system. Root Network focuses on 3D representations and user experience in the Metaverse, now known as ‘The Open Metaverse’.
It also supports Root Network, web3, and decentralization. Ripple’s XRP will now be on the network to settle payments. The network also supports various other cryptocurrencies. But XRP will be the vehicle currency. Other protocols will also be supported via EVM (Ethereum Virtual Machine). According to the press release:
XRPL will set the standard for NFT functionality. It will also feature XRP as the default digital asset for transaction activity in the network’s multi-token gas economy. In this way, Root will play a critical role in Network.
Main features of The Open Metaverse
“The Open Metaverse brings together various players in the Blockchain industry. Its aim is to create an interoperable architecture that supports Web3 and cross-chain integration. The developers built The Root Network on this vast architecture. Open Metaverse comes with a few key benefits.
First, it removes the already existing boundaries between the various categories of user interest. It also makes the whole setting easier to interact with. Basically, Metaverse wants to improve the user experience, covering various categories such as finance, social media, and gaming, among others.
Second, Metaverse is all about decentralization. Users have control over their transactions and digital assets. Users own all data, content and identity tied to them. Therefore, according to experts, the introduction of XRP on The Root Network is of great importance for the future of crypto.
Ripple (XRP) use case
As stated in the news of Kriptokoin.com , XRP has different use cases. Now Ripple has added the NFT world as one of the standards by which crypto will work. In turn, The Root Network will be able to access advanced smart contract facilities and the XRP Ledger community. On the subject, Monica Long, Managing Director of Ripple, said:
We are excited that Ripple is partnering with FLUF World on the exciting project of The Open Metaverse. For nearly 10 years, XRP Ledger has served as best-in-class capabilities for closing and liquidity of any tokenized asset, from currencies to collectibles. The partnership is a testament to the robustness of XRP Ledger to support a metaverse project of this scale.
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