Ripple Investment Arm Reveals New Concepts for NFT-Focused Use Cases on XRP Ledger

RippleX, Ripple’s investment and development arm, is exploring new ways for developers to build non-fungible tokens (NFTs) on the XRP Ledger (XRPL).

The payments firm teamed up with software competition platform Devpost to host a hackathon involving 400 participants and $50,000 in prizes, according to a new blog post from Abner Pinto, the RippleX tech community liaison.

The grand prize and “best industry use case” winner of the hackathon was a US developer named Adam Kagy, who created a project that bridges NFTs from Ethereum-based chains with the ERC-721 standard over to the XRPL and its XLS-20 standard.

Kagy’s inspiration was “to create an interoperable tool to advance NFTs on the nearly frictionless XRPL,” according to Pinto. He won $22,500 in XRP as well as a virtual meeting with Ripple engineers to discuss the project.

Second prize went to United Arab Emirates developers Gurdal Ertek, Albert Vo, Orhun Özer and Oğuzhan Özer.

They designed “a Machine Learning as a Service (MLaaS) platform to interactively and dynamically generate Machine Learning (ML) report for uploaded data files and issue NFT tokens on the Ledger as certificate of ownership.”

India developer Yatin Jadav took 3rd place, as well as “best entertainment use case.” Jadav designed “a metaverse platform with pre-built, editable templates powered by Web3.”

The “popular choice” award went to Ukraine developers Oleh Olegeek and X1007 X. They designed a project that converts AI interpretations of real art into a unique virtual format.

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Featured Image: Shutterstock/Space Wind/Tun_Thanakorn