XRP News: Ripple Forms New Partnership With FLUF World To Target The Metaverse

June 17, 2022 3:21 pm

Ripple just announced a new partnership with FLUF World which is a global creative community and NFT collectibles ecosystem.

This partnership will enable the launch of a new network called the Root Network which will enable both projects to gain significant progress in the growing metaverse space.

The network will contain a large amount of NFT collections and the company stated that they specifically decided to build the Root Network on the XRP Ledger.

Those reasons include the fact that the XRP Ledger is the best platform to be able to build a complex structure and this belief was confirmed by the developers of “The Open Metaverse” themselves.

U.today reports:

Revealing details around “The Open Metaverse” itself, it has been stated that it will be seamless and interoperable. According to the official website of the project, the metaworld stands on two main principles:

Achieving an immersive experience, which touches on the theme of a seamless virtual world.
Users’ ownership of their assets, including full control over in-game items and the freedom of player-owners to act on them how they want.

The Root Network will also support bridges to XRPL and ETH networks, which will make it possible to connect them to the two largest web3 communities.

It is also worth mentioning that XRP was chosen to be used as the underlying asset to pay for gas on The Root Network’s multi-token network.

The fact that Ripple continues to form new partnerships and launch new projects on high growth potential projects like this one indicates the strong position that Ripple is currently on.

As of right now, the bearish slump of the crypto market has paused many crypto projects and will likely shrink the number of blockchain projects that will exist in the future.

Yet, Ripple’s strong balance sheet and willingness to still invest and hire new talent indicates that it may be one of the crypto projects that will continue and prosper beyond this bear market.

The metaverse will also likely become a topic of greater relevance in the far future and getting into the space now may mean that Ripple is one of the earliest blockchains to take advantage of the industry.

Yahoo concludes:

The Root Network will give any creator access to common smart contract functionality without having to write or deploy contracts themselves and also means that code previously written for Ethereum can now run natively on the Root Network through Ethereum Virtual Machine (EVM) compatibility.

Root’s integrated runtimes for Non-Fungible Assets, Gas Economy, Fungible Assets, Decentralized Exchange, Oracles and more, will provide the ingredients for creators to build applications and content with a simple onboarding experience without being a smart contract developer.

The Root Network natively supports asset bridges to the XRPL network and the ETH network as well as support for the XRPL NFT standard being introduced.

This connects The Root Network to two of the largest Web3 communities and extends for the first time new smart contract features, as well as access to NFTs to the XRP Ledger community.

With this mutually beneficial partnership, it may serve as a potential bullish catalyst as XRP continues to get more innovative use cases.

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