Ripple Confirms Partnership With UK Sports Car Company Lotus

The sports activities automotive firm will launch its automotive NFTs on Ripple’s XRPL.

Ripple Companions UK Sports activities Automotive Firm Lotus to Launch Automotive Non-Fungible Tokens (NFTs) on XRP Ledger (XRPL).

Well-known blockchain and cryptocurrency firm Ripple has introduced that it has partnered with UK-based sports activities automotive manufacturing firm Lotus, to launch automotive non-fungible tokens on the XRP Ledger (XRPL). 

“We’re excited to associate with @lotuscars to assist deliver automotive #NFTs to the #XRPL,” Ripple stated in a press release. 

🚗💨
We’re excited to associate with @lotuscars to assist deliver automotive #NFTs to the #XRPL. https://t.co/vvL4ppfZps

— Ripple (@Ripple) June 28, 2022

The partnership was first introduced by Lotus final week. Recall that the sports activities automotive manufacturing firm famous that it is going to be venturing into the world of non-fungible tokens through a collaboration with Ripple and NFT Professional, one of many beneficiaries of Ripple’s Creators Fund. 

In keeping with Lotus, Ripple will present technical help through its low-cost, quick, and carbon-neutral XRP Ledger. 

Particulars of Lotus NFTs

The NFTs shall be a product of Lotus’ Superior Efficiency unit, a division of the automotive firm, which was created earlier this 12 months. 

The digital collectible shall be created in-house utilizing the Lotus design, with every unit tipped to pay tribute to every of the legendary efficiency automotive manufacturers. 

Notably, the NFTs will allow collectors and creators to expertise completely different Lotus automobiles in a complete new dimension, with holders of the digital collectible given a number of perks within the coming weeks or months. 

“Lotus has at all times been about cutting-edge innovation, and coming into the Web3 house on this approach, with a really customer-focused NFT program, is one other glorious instance of that. Partnering with NFT PRO, an actual skilled on this subject, means we’re assured to ship really memorable content material for a brand new digital neighborhood of Lotus followers,” Simon Lane, Director, Lotus Superior Efficiency stated within the announcement. 

Per the announcement, NFT PRO, which was among the many beneficiaries of Ripple’s $250 million Creator Fund, will work intently with Lotus within the improvement of the non-fungible tokens. 

Commenting on the event, Christian Ferri, CEO, NFT PRO, stated: 

“It’s a privilege to associate with such an iconic British automotive model and to assist the Lotus Superior Efficiency staff join with a brand new era of followers. This announcement is barely the start for this collaboration.” 

Ripple’s XRPL Huge Adoption

Ripple’s XRPL has not too long ago been broadly adopted for varied use circumstances. Fintech corporations have adopted an answer to develop decentralized trade and facilitate cross-border funds. 

The tech’s utilization of NFTs has additionally seen widespread adoption prior to now few months. In April 2022, high NBA star Michael Jordan introduced that he shall be launching his non-fungible token on XRP Ledger.