Following the collaboration of Polygon and Meta, another altcoin project from the middle of the decade is accelerating its work towards the NFT segment. We may see new collaborations from Web3 and NFT fields in the coming days.
A well-established altcoin just announced its new NFT platform
Ripple (XRP), which is in seventh place by market price, will work with Ethereal Labs to increase the NFT capabilities of its new platform. Ripple announced its “developer fund” to support its technology with digital art during the year. However, amid the recent market conditions, Ripple’s NFTs have also been in the background. Despite the ongoing legal process with the SEC, the NFT field in particular has performed strongly. Increasing the utility and demand of NFTs at Ripple will now work with an experienced group in the segment.
Besides its gluttons, Ethereal Labs is known for its subsidiaries such as Toys R Us and Lionel Messi. His team consists of respected players in Web3.0 with projects that create digital artworks. Co-founder Adrian Baschuk says a select few will leave because of the “keep-to-go” nature of digital art. According to Baschuk, leading artists will soon offer exclusive collections to Ripple users.
Altcoin analysts are optimistic about XRP price
FXStreet analysts expect a rebound for the XRP price in the wake of the FTX crisis. After a long sideways period, the next target for XRP bulls will be $0.56. If the bulls can reach the $0.50 area, the price of XRP could climb as high as $0.56. However, a drop below $0.30 will invalidate the uptrend.
Koindeks.comAs you follow, XRP price is currently trading at $0.3627.