XRP, the native asset of the XRPL (XRP Ledger), is finding new use cases in the blockchain services industry. One of its latest accomplishments is its integration as a payment method for NFT (Non-Fungible Token) purchases and gas for NFT trades on the Root Network.
This development was first highlighted by Eri, a renowned figure in the XRP community. She showcased a demonstration of an NFT purchase she made in the FLUF World ecosystem, where all payments were conducted using XRP. The FLUF World is an NFT-based protocol that focuses on character collectibles and other non-fungible elements. These characters can be utilized for an immersive Metaverse experience powered by The Root Network.
In her video showcase of the Futureverse, Eri explained how she bridged her FLUF World collectible from the Ethereum network to the Root Network. She created a bridge between MetaMask and the Futureverse, enabling her to easily move her XRP to a Futureverse wallet. Notably, the purchase of her FLUF World collectible called “Onna Musha” was exclusively made with XRP, and the gas fees for the NFT purchase were also paid with XRP. This marks an important step towards broader utility for XRP, as the Root Network uses XRP for gas fees on all transactions.
The Root Network, an EVM (Ethereum Virtual Machine) compatible layer-1 blockchain, has chosen XRP as its gas token. While its native token is ROOT, XRP serves as the gas token for transactions on the network. This decision stems from a partnership between Ripple and FLUF World, where they collaborated to introduce “The Open Metaverse” running on the Root Network. Ripple confirmed that the Open Network would be developed on the XRP Ledger, leading to the use of XRP as a gas token. The XRPL’s native NFT functionality, introduced in October 2022, was set to become the standard for NFT protocols on the Root Network.
This expansion of XRP’s utility in the blockchain services industry is a significant development for the asset. It highlights the versatility and potential for XRP to serve as a payment method and gas token for various blockchain ecosystems. With its integration into the Futureverse and FLUF World, XRP is playing a crucial role in enabling seamless and efficient transactions within the Metaverse.
However, it’s important to note that this article is for informational purposes only and should not be considered financial advice. Readers are encouraged to conduct thorough research before making any investment decisions.