Ripple has collaborated with Ethereal Labs to expand the platform's NFT capabilities. Ripple established the Creator's Fund to promote digital art on its Ledger and added NFT capabilities, transforming it into a full Web 3.0 platform.
Ripple has announced a new partnership that could accelerate the growth of the XRP Ledger in non-traditional financial markets. NFTs on Ripple have underperformed in recent days. Interestingly, despite ongoing litigation with the US financial regulator, the Securities and Exchange Commission, Ripple's NFT performance continued to improve.
The two technology companies will collaborate to foster more partnerships and increase the utility and demand for NFTs on Ripple. Ethereal Labs is a well-known player in web3.0, having worked on virtual art projects for Lionel Messi and Toys R Us, among others.
Because of its "siloed" nature, virtual art, according to Adrian Baschuk, COO of Ethereal Labs, is the privilege of the few. Ripple users, according to Baschuk, will soon see personalized collections of featured artists.
Ripple CTO David Schwartz hinted that FTX employees might be interested in working for the cross-border payment settlement firm. A similar offer was made to Twitter employees by Schwartz.
SEC v. Ripple has been in the news for nearly two years. However, the payments giant continued to innovate and explore new avenues in the XRP Ledger.
Analysts examined the XRP price chart and forecasted an altcoin rally. XRP could reach $0.56 after trading sideways for a long time. If the bulls can push the XRP price to $0.50, it will most likely reach $0.56.
If the price of XRP falls below $0.30, the bullish case will be invalidated, triggering further declines.
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