David Schwartz, Ripple’s chief technology officer, says the San Francisco payment company is exploring ways to include non-fungible tokens (NFTs) in the XRP ledger.
In a new interview on Thinking Crypto, Schwartz notes that he was personally interested in two particular ideas regarding NFTs and the place they occupy in the digital world.
The first, he says, is the “drive people have to collect things”.
“If you look at NBA Top Shot, a great NFT project – you have a fantastic user experience, but the most important thing is that I have a relationship with something that means something to me that no one else has.
I’m not sure what that relationship is – as I kind of have it – but it doesn’t matter. What is important to me is that I love LeBron James or Steph Curry or whoever and that I have a special relationship with me [them] nobody else has that. “
The other aspect of NFTs that Schwartz is interested in is the idea of digital rights. Schwartz notes that everyone currently has “bundles of digital rights” in the form of songs like iTunes, eBooks on Kindles, and movies on streaming platforms.
But he says that the current user experience with these digital rights is “absolutely terrible” because of the ever-changing marketplace.
The Ripple CTO wonders if NFTs are a step in the right direction to find a long-term digital rights solution.
Schwartz’s comments aren’t the first evidence that NFTs overlap with the XRP ledger. Last month, the founder of Ripple-backed development studio XRPL Labs, Wietse Wind, announced plans to add NFTs to the XRPL.
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