SBI Holdings Plans the Introduction of NFTs on the XRP Ledger During EXPO 2025

Summary Points:

  1. SBI Holdings’ NFT Initiative:
  • Japanese financial giant SBI Holdings plans to issue NFTs on the XRP Ledger for EXPO 2025 in Osaka, Japan.
  • This initiative signifies a significant advancement in adopting NFTs and blockchain technology for large-scale international events.
  1. Consortium Collaboration:
  • SBI Holdings collaborates with major financial institutions, including SMBC Group, Resona Group, and Mitsubishi UFJ Financial Group.
  • The consortium will operate the “EXPO2025 Digital Wallet” for acquiring and viewing exclusive Expo-original NFTs named “Myakun!”
  1. Technical Details:
  • SBI Holdings, a Ripple partner and investor, will use XRPL to issue the EXPO2025 NFT on a digital wallet operated by the consortium.
  • The NFT will be accessible through a dedicated SBI VC Trade website, enhancing user experience.
  1. EXPO2025 Digital Wallet:
  • SBI VC Trade and SBINFT collaboration marks a significant step in exploring the NFT domain.
  • The wallet, in conjunction with a dedicated website, enables users to store and view the exclusive “Myakun!” NFTs.
  1. Ripple’s Technology Versatility:
  • SBI Holdings emphasizes the versatility of Ripple’s technology, stating that XRPL can tokenize various assets beyond XRP.
  • The initiative aims to promote new technologies, including NFTs, expected to grow in the future and share them globally.
  1. EXPO 2025 Attendance and Uniqueness:
  • The EXPO 2025, sanctioned by the Bureau International des Expositions, is expected to attract 28.2 million attendees.
  • The “Myakun!” NFT is non-transferable and exclusive, not available for resale, adding to its uniqueness and value.
  1. Ripple’s Role and SBI’s Commitment:
  • SBI Holdings’ decision to use XRPL reaffirms trust in its partnership with Ripple.
  • Despite legal challenges, SBI consistently supports Ripple, integrating On-Demand Liquidity for efficient cross-border transactions.
  1. Community and XRP Price:
  • The XRP community, known as the XRP army, reacts positively to the NFT initiative.
  • Expectations are high for the NFT launch, surpassing the success of previous XRPL-based projects.
  • At press time, XRP traded at $0.56998, with a note about its price dropping below the 200-day EMA on the 1-day chart.

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