Ripple Partners With Lotus Cars To Bring Automotive NFTs To XRP Ledger

June 17, 2022 3:46 pm

Lotus Cars is known as an iconic British car brand that is now aiming to bring together a community of automotive enthusiasts and crypto fans.

To do this, the company has announced that it has formed a new partnership with Ripple in order to bring automotive NFTs to the XRP ledger.

The company will be collaborating with industry expert NFT PRO in order to work on its NFT collection and specifically chose the XRP ledger due to its low cost, fast transaction speeds, and its carbon neutral qualities.

Ripple will be providing all the technical support that the company needs in order to make its NFT collection launch a success.

LotusCars.com reports:

The partnership between Lotus and NFT PRO marks the car brand’s debut in the Web3 space by creating a community of – and exciting new opportunities for – Lotus customers, NFT collectors and crypto-fans. Web3 is the name given to the next-generation online environment incorporating concepts such as cryptocurrency.

NFTs are the next innovative project from Lotus Advanced Performance, the division of the business launched earlier this year. It is dedicated to delivering thrilling bespoke vehicles and world-class customer experiences.

Created in-house by Lotus Design, each new NFT will pay tribute to the pioneering spirit of the iconic performance car brand.

Simon Lane, Director, Lotus Advanced Performance, commented: “Lotus has always been about cutting-edge innovation, and entering the Web3 space in this way, with a truly customer-focused NFT programme, is another excellent example of that.

Partnering with NFT PRO, a real expert in this field, means we are guaranteed to deliver truly memorable content for a new digital community of Lotus fans.”

The NFT industry has been greatly affected by the bearish trend of the overall crypto market with the prices of many NFTs mirroring the prices of crypto which have declined significantly in recent weeks.

With that being said, this partnership indicates that the two parties are focused on long term strategy and are not affected by the current market conditions.

This makes it a rare right as many other crypto projects are now struggling to survive due to the uncertain economic conditions.

With this new partnership, Ripple will continue to be able to have its XRP ledger gain more momentum in the Web3 space, the NFT space, and just gaining more mainstream awareness due to the high profile nature of this collaboration.

LotusCars concludes:

NFT PRO has been chosen by Lotus to help it make a seamless entry into the world of Web3.

Christian Ferri, CEO, NFT PRO, added: “It’s a privilege to partner with such an iconic British automotive brand and to help the Lotus Advanced Performance team connect with a new generation of fans.

This announcement is only the beginning for this collaboration.”

The forthcoming launch of the Lotus NFTs on the XRPL allows creators and collectors to come together and experience Lotus Cars in a new and exciting environment, including unique perks exclusive to holders of the Lotus NFTs.

Look out for more news later this month.

In addition to partnerships, Ripple has also shared that it plans to do acquisitions in the near future in order to continue building value for XRP.

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