XPMarket Records Remarkable Growth in XRP-Backed NFT Markets
According to a recent XPMarket report, the XRPL’s NFT market experienced a significant surge in June 2023. Here are the key points:
– Total trading volume of NFTs on the XRP Ledger increased by 40.7% in the past 30 days.
– The number of NFTs grew from 1,228,309 in May to 1,371,624 in June, a growth of 11.7%.
– The number of transactions also saw an increase, rising from 102,823 in May to 114,045 in June, a growth of 10.9%.
– This surge indicates a growing interest and adoption of NFTs within the XRPL ecosystem.
– NFTs have gained traction in various industries, including art, music, and gaming.
Rapid Surge in Trading Volume, Transactions, and Fees on XRPL’s NFT Scene
The XRPL’s NFT market has seen several noteworthy developments. Here are the key points:
– The average price of an XRP-based NFT increased from 18 XRP in May to over 23 XRP in June.
– Issuer fees also witnessed a significant spike, averaging 1.23 XRP in June after a 55.4% surge.
– The cumulative revenue of creators surpassed $1 million, highlighting their successful contributions.
– The XRPL blockchain has unique standards for NFTs, separate from Ethereum or Polygon’s NFTs.
– The progress of NFTs on XRPL continues to showcase remarkable growth.
Hot Take
The surge in XRPL-based NFTs reflects the expanding reach of NFTs as a form of digital expression and investment. Artists, creators, and collectors are actively participating in this emerging market, leveraging the unique features and benefits of NFTs. The XRPL NFT market is expected to continue expanding in terms of volume and activity, with more notable announcements on the horizon. It’s an exciting time for NFT enthusiasts within the XRPL ecosystem.
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