Ripple CTO David Schwartz, has announced that the digital payments company is looking at ways to add Non-Fungible Tokens (NFTs) to the XRP Ledger.

In an interview on <a href="https://www.youtube.com/watch?v=MYKfXOA7f0k">Thinking Crypto</a>, Schwartz admitted that he himself has been interested in two particular ideas regarding NFTs and the space they occupy in the digital world.
<h2>Aspects of NFTs that Interests Schwartz</h2>
David Schwartz says it is the “drive that people have to collect things.”

“If you look at NBA Top Shot, which is a great NFT project — they have a fantastic user experience, but the important thing there is like I have a relationship with something that means something to me that nobody else has.

I don’t know exactly what that relationship is — like I sort of own it — but it doesn’t matter. What matters to me is that I love LeBron James or Steph Curry or whoever, and I have a special relationship to [them] that nobody else has.”

Another aspect of NFTs, that Schwartz found interest in, is the idea of digital rights. Schwartz affirms that everyone currently has “bundles of digital rights.” 

which are in the form of songs on iTunes, eBooks on Kindles, and movies on streaming platforms.
<h2>Ripple CTO Plans to Add NFTs to XRP Ledger</h2>
According to Schwartz, the present user experience with those digital rights is “absolutely awful” due to the ever-changing marketplace.

The Ripple CTO profers that if the steps taken are in the right direction, the company can soon come up with a long-term solution for digital rights.

Schwartz’s comments aren’t the first evidence of NFTs overlapping with the XRP Ledger. Recently in the past month, the founder of Ripple-backed development studio, XRPL Labs Wietse Wind <a href="https://www.cryptoknowmics.com/news/xrpl-labs-founder-has-a-proposal-for-non-fungible-tokens-on-the-xrp-ledger/">announced</a> plans to add NFTs to the XRPL.

Like other cryptocurrencies, Ripple is built on the idea of a distributed <a href="https://www.cryptoknowmics.com/news/ripple-network-announces-launch-of-xrp-ledger-version-160/">ledger network</a>. That requires various parties to participate in validating transactions. This facilitates transactions all over the world, and transfer fees are far cheaper than cryptocurrencies like bitcoin. Unlike other cryptocurrencies, XRP transfers are effectively immediate, requiring no typical confirmation time.

Ripple CTO Opens up About Looking at Ways to Add NFTs to XRP Ledger

David Schwartz, Ripple CTO announced that the San Francisco payments company is looking at ways to bring Non-Fungible Tokens (NFTs) to the XRP Ledger.

A student from a technical background, Deepshikha found Bitcoin in 2020 and has been an evangelist ever since. A B.Tech turned into a full-time crypto-writer, she tries to bridge the gap that currently exists between the crypto world and people from non-technical backgrounds, through her simplistic yet effective form of writing. She finds that her writing for cryptocurrencies can redefine the way the audience interacts with the crypto space.

Ripple CTO Opens up About Looking at Ways to Add NFTs to XRP Ledger

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