Ethernal Labs to release NFTs on XRP Ledger

The Ripple company announced on its official website about the upcoming collaboration with representatives of Ethernal Labs. As part of the collaboration, a collection of NFT tokens for the XRP Ledger will be released. The collection will be developed by EhernityChain, and all NFT tokens will be integrated under the aforementioned system. According to Ethernal Labs, their partnership program with Ripple was carried out in order to improve the Web 3.0 economic system.

Based on the words of the chief operating officer of Ethernal Labs and part-time one of the founders of the company, it is XRP Ledger that will be able to make NFTs and digital currencies accessible to the masses. The company positions itself as a creative studio that will try to make people happy with such an experimental project.

The release of the NFT collection is not the only goal of the collaboration between Ethernal Labs and Ripple. The companies also want to create a gaming platform based on the Play2Earn system and a Metaverse Development studio. As for the specific areas in which NFTs will be involved, it will be music and celebrity connections.

The Ethernal Labs project was launched this year. At the beginning of 2022, the company was able to raise about $20,000,000 in a seed round, and Ripple and Algorand became one of the main investors. Ethernal Labs was among the first independents interested in the development of the Ripple Creator Fund. The latter, in turn, received an amount of $250,000,000 for the development of the NFT and XRP Ledger connection, which is aimed at developing independent NFT token creators and similar creative studios.