1 August 2026
Ripple Plans to Add NFTs on XRP Ledger to Minimize Gas Fees
Since the beginning of 2021, the NFT trend has risen drastically. Despite the meteoric rise of NFT culture, interest has almost crippled, as users have to bear the dwindling interest due to the challenging process of transferring ownership.
To combat this challenge, Ripple plans to integrate the NFT marketplaces on the XRP Ledger to combat high gas fees for trading and mint fees for NFTs.
The new development will offer buyers and sellers a more cost-effective and pleasant experience while operating in the NFT space. Another significant advantage of this planned implementation is that XRPL uses a novel consensus process that consumes negligible amounts of energy to validate transactions and is 120,000x more efficient than proof-of-work networks.
“Building on the XRP Ledger provides developers a unique opportunity to run more sustainable NFT apps and marketplaces while eliminating a heavy burden for the planet,” the firm announced
This move by Ripple is a huge step forward and a massive increase in efficiency for the process of minting and trading NFTs as far as the environment is concerned. Recently, debates have been raging about the sustainable mining of PoW blockchains. Digital currencies use a nearly unfathomable amount of energy. Even some of the biggest players in the market, such as China, are suspending some operations due to the excessive energy consumption of bitcoin (BTC) mining.
Disclaimer: The author's views and opinions are for informational purposes only and do not constitute financial, investment, or other advice.
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