$ 20,099.00
$ 1,131.50
$ 0.999846
$ 0.455306
$ 0.32365
$ 1.00

Ripple CTO, David Schwartz, is bullish on the future of NFTs

Ripple CTO, David Schwartz, is bullish on the future of NFTs

Recently, the Non-Fungible Token (NFT) sector has been overtaking the cryptocurrency market. Following the public support that the NFT sector has gotten from Facebook and EA Sports, this sector has been growing rapidly. 

With Facebook rebranding itself to Meta, the famous question of whether the so-called JPEGs have real-life usage has been answered… and the answer is YES. The digital world is rapidly growing, and NFTs are going to be one of the main pillars of the metaverse. 

After Facebook’s announcement, EA CEO, Andrew Wilson, made a public comment on the future of NFTs, considering them very important for the future of gaming in general. According to Wilson, FIFA players are interested in NFTs more than ever.

Related: NFTs Are The Future of Gaming Says EA CEO

These comments are extremely bullish for the NFT space, a cryptocurrency sector that was once considered obsolete. Not long ago, the CTO of Ripple, David Schwartz, also made comments regarding the NFT sector.

In an interview for Cointelegraph, Schwartz stated that Ripple is providing a more efficient way for people to use NFTs. Considering that the Proof-of-Work (PoW) mechanism consumes huge amounts of energy, the XRP Ledger may provide a better platform for NFTs since it is way more energy efficient.

Schwartz was also asked about Wrapped XRP and how it could possibly affect the future of Ripple. He stated that just as Wrapped BTC or Wrapped ETH, Wrapped XRP will act just like XRP.

However, Wrapped XRP is designed to move freely in other blockchains as well, not just XRP Ledger. Although this is a good thing because you can use XRP on the Ethereum network, moving Wrapped XRP is not as cheap and time-efficient as moving XRP.

Also Read: Elon Musk Backs Billy Markus in His Crypto Hype Criticism

Also read:

Related News

LuckyBlock is a worldwide game and competition platform with play to earn rewards using blockchain protocols. They have already given many prizes to the participants of the game.

Lucky Block Partners with Crypto Academy

Lucky Block has partnered with Crypto Academy, as we look forward to many updates and launches ahead.  Lucky Block has reached a partnership with Crypto Academy, the renowned Crypto Marketing Agency, and Informational and Educational portal. With an incredible success rate in helping cryptocurrency-focused startups grow in the industry, the partnership with Crypto Academy is a stepping stone in the exciting journey ahead for Lucky Block. LuckyBlock is a worldwide

Read More »
The withdrawal limit for traders has been temporarily lowered by cryptocurrency-backed loans provider CoinLoan.

The Withdrawal Limit Temporarily Reduced by CoinLoan

The withdrawal limit for traders has been temporarily lowered by cryptocurrency-backed loans provider CoinLoan. The corporation cited the present market crash as the reason for the decision. Due to the change, customers are now limited to a $5,000 maximum withdrawal limit each day. In their announcement, they noted the following: “the interest we pay on the Interest Accounts is yielded by issuing overcollateralized loans to other platform users. Hence in some

Read More »
The price may perhaps clear the $1,200 obstacle above the next significant resistance, which is located close to the $1,180 zone.

New Surge in Sight As Ethereum (ETH) Gathers Momentum

Following a period of stability at $1,000 versus the US Dollar, Ethereum (ETH) enters a new uptrend. Above the $1,150 barrier level, Ethereum (ETH) can move much higher. Near the $1,070 region, the pricing was able to overcome a few significant obstacles. Even the 61.8 percent Fib retracement level of the significant decline from the swing high of $1,235 to the low of $997 was tested by the price. The

Read More »

My Coins

$ 20,099.003.15%
$ 1,131.503.92%
$ 0.4553061.45%
$ 0.9998460.13%

Newest Videos on YouTube

We inform and educate people about Cryptocurrencies and Blockchain technology.

© Copyright 2021, All Rights Reserved,
Crypto Academy


Contact Us

For any question conatct us through:

Disclaimer: All information and materials on this website are for educational purposes only. does not provide any form of financial advice. Cryptocurrencies are highly volatile, therefore any form of investing carries a high level of risk to your capital. It is recommended that you seek professional advice prior to implementing any investment or financial plan.

We do not ask you for your Cryptocurrency / We do not hold your Coins / We do not ask for Private Keys / Be aware of scammers and imposters.

Contact us only through: