Ripple believes carbon credits and gaming NFTs make sense

Photo: Jamel Toppin

Recently, Ripple CTO David Schwartz gave an interview after the Decentral conference. Although he is primarily concerned with improving payment processing, Schwartz believes that carbon credits and gaming NFTs are also worthy of attention.

However, he believes that the origin of carbon credits has some complexities:

We are really excited about carbon credits. I think it's just because I think it fits really well. There is a real problem in carbon credits right now with origins and ensuring that things are not given out, for example there are not two sets of carbon credits.

Gaming NFTs, according to David Schwartz, should also evolve. According to him, many players, when they come to a new project, start from scratch and because of this they experience some discomfort. According to the CTO of Ripple, if users had the opportunity to enter the game with some kind of NFT, then this would generally contribute not only to the user experience, but also to the development of cryptocurrency gaming in general:

In the gaming space, there are real problems that are being solved. You have to start from scratch, and that's the feeling of loss. If you could take the NFT with you, you wouldn't have a sense of loss and be more likely to move on to the game that the game studio wants from you.

NFTs and metaverses have been widely adopted in the last 2 years. In 2022, virtual worlds have so filled the information fields that representatives of the University of Oxford said that the “metaverse” is one of the main nominees for the title of the word of the year 2022. But the NFT sector has suffered this year. For 2022, sales of non-fungible tokens fell by 92% compared to last year. However, many companies and some countries continue to be interested in this area.

At the moment, Ripple, although they do not create applications directly, are nevertheless looking for partners who will use the XRP ledger for their own purposes. Its main advantages include low cost and extremely high speed capabilities.

Ripple has also created a $250,000,000 Creator Fund, which aims to fund such ideas and implement some projects in various ecosystems. According to David Schwartz, the fund's money is spent with extreme caution.

Schwartz believes that there are many people in the cryptocurrency market who pay to have performers do a bad job. In order to create real success, and not its illusion, you need to be really smart and well versed in the field of blockchain technologies.