Ripple’s XRP Ledger Goes NFT: SBI Launches Game-Changing World Expo 2025 Initiative!
Japan’s SBI Group has revealed an innovative initiative to issue non-fungible tokens (NFTs) on the XRP Ledger for the upcoming World Expo 2025 in Osaka. This move, designed to enhance visitor interactions through blockchain technology, has garnered significant attention within the crypto community.
SBI Holdings, a partner of Ripple, has started minting NFTs specifically for the World Expo 2025 on the XRP Ledger. This initiative falls under the “EXPO 2025 Digital Wallet” project, sponsored by SBI Holdings. Visitors can download the Myaku-N! digital wallet on iOS and Google platforms to receive these free NFTs, limited to the first 500 users. These NFTs are commemorative, meaning they cannot be transferred or resold.
SBI’s crypto exchange business, SBI VC Trade, and NFT business, SBINFT, are offering this service to the 28.2 million visitors expected at the World Expo in Osaka, Kansai. The NFTs will be viewable until October 13, 2025, after which the digital wallet app service will end.
Utilizing Ripple’s XRP Ledger, SBI will distribute visitor NFTs featuring MYAKU-MYAKU, the official character of the Expo. Attendees can collect these digital collectibles by participating in Expo activities and using the Expo mobile app.
Emi Yoshikawa, Ripple’s VP of Corporate Strategy and Operations, described this initiative as a significant development for Ripple and the blockchain community. Additionally, SBI has announced extra incentives, including lotteries and prizes as part of the “Myakumyakupon!” gift campaign.
The World Expo 2025, scheduled from April to October on an artificial island in Osaka Bay, is expected to draw around 28 million visitors globally. Historically, World Expos have been platforms for showcasing scientific, economic, and technological advancements.
There has been a notable increase in network activity on Ripple’s XRP Ledger, driven largely by NFT transactions. Since the introduction of NFTs on Ripple’s XRP Ledger, there have been 699,590 NFT sales totaling $27.4 million. However, a decline in sales has been observed since the fourth quarter of 2023.
Ripple Labs introduced the XLS-20 proposal in October 2022, enabling the creation of NFTs on the XRP Ledger without the need for smart contracts. This approach aims to minimize the impact on XRPL performance and reduce network congestion.
SBI's innovative use of NFTs for the World Expo 2025 highlights the growing integration of blockchain technology in large-scale events. By enhancing visitor engagement through digital collectibles and leveraging the capabilities of the XRP Ledger, SBI and Ripple are setting a new standard for interactive and commemorative experiences at global events.
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