Non-fungible tokens have undoubtedly become a prominent and reputable niche in the decentralized space. Although NFTs have been around for some time, the technology only rose to stardom in 2021, dubbed “the year of NFTs,” when it also became Collins’ word of the year.
However, the trajectory of NFTs did not stop in 2021; It kept flying at a higher altitude as it witnessed increased adoption, ushering in more developers, creators, and stakeholders, to name a few. Stakeholders are NFT frontrunners and promoters, including investors/enthusiasts and markets.
What is onXRP NFT Marketplace?
He onXRP NFT Market is another epic haven to mint and trade NFTs publicly without any third party interference. It is a commercial niche of the onXRP ecosystem co-founded by Kaj Leroy, Bastiaan van Roekel and Louis de Jong in Q1 2022. The ecosystem is backed by the remarkably fast and efficient XRPL (XRP Ledger), and as onXRP sounds, the ecosystem incorporates all XRPL activities, making it which makes it a flexible and modular ecosystem.
The market it is one of the most exciting features of all the existing modules in the ecosystem. It houses 360 NFT collections that are divided into eight categories: Arts, Collectibles, Gaming, Music, Photography, Sports, Trading Cards, and Utility. Like other marketplaces, investors and enthusiasts can bid on NFTs during auctions, while NFTs are also available for instant purchase. NFTs listed on this marketplace are priced and bought in XRP tokens as they are classified as XRPL NFTs.
What are XRPL NFTs?
XRPL NFTs are XLS-20 token standards that represent NFTs created on the XRP ledger. Like all decentralized tokens, they have their respective standard indicating the network where they are minted, the XLS-20 is the standard token for all NFTs minted in the XRP Ledger.
Are you confused about XRP Ledger and Ripple?
Let’s briefly quench that misconception.
Ripple is a financial company that built its global payment network on a public blockchain network called the XRP Ledger (XRPL). XRPL was created by Ripple co-founder Chris Larsen in 2012, making XRP the native token of the network and used in cross-border payments. Since XRPL is an open source network, it allows anyone to participate in its development; this led to the incorporation of the onXRP ecosystem into XRPL.
So now you understand why onXRP, Ripple and XRPL have different founders/co-founders.
Prior to introducing the XLS-20 token standard, Ripple had committed $250 million to explore NFT innovation in XRPL. The initiative was interesting and led to the development of a compact and efficient XLS-20 that has no adverse effect on XRPL transaction scaling.
Back to onXRP Market
Like other marketplaces, onXRP has a large list of top NFT collections that investors/enthusiasts are looking for. These top selling NFTs include
1. X-PUNKS
The XPUNK Collection is the brainchild of the co-founders of the onXRP ecosystem. The collection showcased a 24-by-24-pixel canvas of 10,000 NFTs uniquely marked by ten attributes. These glamorous attributes encompass the face, facial hair, hair and headwear, eyes, eye features, eye wear, neck wear, mouth attribute, and piercing, and each NFT has a minimum of four attributes. All of the NFTs in this collection have a trademark X mouth, which represents their affection and loyalty to XRPL. XPUNK’s current minimum price is 1,350 XRP, while the collection reportedly recorded a sales volume of more than 8 million XRP..
2. Bored Monkeys XRP Club
The Bored Apes XRP Club is a collection of 10,000 premium NFTs created on the XRP Ledger. Also called X Apes, it differs from the BAYC collection hosted on the Ethereum network. All of the NFTs in this collection are uniquely characterized by various attributes that define their rarity scorecard. Its attributes include Background, Clothes, Earrings, Eyes, Skin, Headwear, and Mouth, which are also defined by their types. For example, there are 47 types of clothing, 43 types of hats, 33 types of mouths, 28 types of eyes, 23 types of skin, 9 types of bottoms, and 6 types of earrings.
Just like the apes on the Ethereum network received mutation sera, all X Apes holders also received HOG as airdrops (loyalty rewards). These HOGs are another collection of 10,000 NFTs that will be used to mutate X Apes in the near future. Owning these X Apes has many benefits, including daily Baynana drops, weekly jungle events (like treasure hunts), access to Metaverse lands, and upcoming games. The minimum price for X Apes on the onXRP marketplace is 550 XRP and it has registered a trading volume of more than 3 million XRP.
3. XSPECT
XSPECTAR is another top collection of NFTs on the onXRP market. The set currently has an undisclosed number of NFTs, with 14 attributes defining their respective rarity. These NFTs feature agents holding different weapons, ice cream, donuts, chocolate, detonator, cyberphone, hip flask, bags, lipstick, microphone, milkshake, and much more. Its current minimum price is 290 XRP and it has recorded over 430k XRP in trading volume.
How to trade NFTs on the onXRP Marketplace
NFT trading involves buying or selling NFTs on markets; it is an integral factor driving NFTs and their adoption. Like other markets, trading NFTs on the markets requires the connection of non-custodial wallets like MetaMask, Trust wallet, etc. Buying or selling NFTs on the onXRP marketplace requires connection to the HUMMM wallet.
What is the XUMM wallet again?
The XUMM wallet is a non-custodial wallet that allows users to interact with the XRP Ledger and third-party tools. The wallet is secure and fast, executing transactions in 4-5 seconds, due to the XRPL 1500 tps (transaction per second). XUMM is only supported or available on mobile devices such as Android and iOS; no web version or extension.
How to trade with NFTs
- To trade NFTs on onXRP, download the official HUMMM wallet of google play store for android or the app store for iphone.
- Configure your wallet security module with access codes and biometric or facial identification for added security. While setting up your wallet, please read the instructions and information slides carefully before checking the “I understand” box on your mobile device. Before using the wallet, you need to create your account and copy your keys. Also, you need to deposit at least 10 XRP into your account to activate it and avoid creating spam accounts.
- After activating your account, click on the XUMM icon in the middle of the icons at the bottom.
- The next thing is to click on the “Scan QR Code” tab on your mobile device. While this is all being done on your phone, head over to XRP market on your PC and click the “CONNECT WALLET” tab in the upper right corner.
- Then scan the QR code on your PC with the XUMM wallet scanner on your mobile device and approve the connection. Now, it has been connected to the onXRP marketplace.
You can now buy or sell NFTs on the market. As a user, you can also create or mint NFTs on the platform by clicking the “CREATE” tab in the top right corner.
To launch your NFT collection or project with onXRP Launchpad, you will need to connect a virgin or newly activated wallet with no transaction history. Please note that the Launchpad is not intended for individual minting but for corporate NFT projects.
Conclusion
onXRP is another interesting marketplace promoting the adoption of non-fungible tokens. It is an arm of the onXRP ecosystem that incorporates XLS-20 NFT into the XRP Ledger. In addition to the featured NFT collections above, there are several fascinating NFT collections on the market, including
- PUNK UNIX
- Cyborgs AA XRP
- bearable bulls
- XAliens Genesis
- Blockchain Sponsor
- revelers
- drug addicts
- XFLOKI GENERATION 1
- MONKEY MONKEY
- Bored Apes Soccer Club
- rich ducks
- xblades
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*All investment/financial opinions expressed by NFT Plazas come from the personal research and experience of our site moderators and are intended for educational purposes only. People are required to fully research any product before making any type of investment.
Technical writer, enthusiast of all things blockchain and the decentralized world.
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