Ripple-partner SBI Holdings Debuts NFT Services on XRPL, XRP Trading Volume Spikes

As a seasoned crypto investor with a keen interest in the latest developments within the blockchain space, I find the recent announcement by SBI Holdings regarding their NFT services on the XRP Ledger particularly noteworthy. Having closely followed Ripple and its partnerships over the years, I am encouraged by this collaboration between two well-established players in the industry.

SBI Holdings, a Tokyo-based financial services company, recently unveiled plans to offer non-fungible token (NFT) services on the XRP Ledger, a blockchain developed by California-based fintech firm Ripple. This announcement has sparked significant interest in XRP, leading to an increase in trading activity for the native token of this open-source platform.

Based on SBI Holdings’ official declaration, starting July 1st, attendees of the World Expo in Osaka/Kansai can collect unique digital tokens called “Myaku N!” as NFTs (Non-Fungible Tokens) through the EXPO2025 Digital Wallet. Sponsored by Ripple’s long-term partner, this wallet service is specifically designed for the Expo. According to Google Play Store information.

At the wallet, you’ll find various cashless options. One of them is “MYAKU-PE!” – a versatile payment system usable both within and beyond the Expo premises. Another feature is “MYAKU-PO!”, which lets you accumulate points by engaging in Expo activities. There’s also “MYAKU-N!” – an exclusive reward program featuring NFTs unique to the Expo. Lastly, there’s the “status program,” granting incentives based on your digital wallet activity usage.

The process of creating World Expo 2025 NFTs has commenced on the XRP Ledger. Users can easily access and download the official application from either the Apple App Store or Google Play Store, enabling them to start receiving free NFTs directly in their digital wallets. Yet, it’s essential to acknowledge that this NFT service is currently restricted to a user base of 500 individuals.

As a crypto investor, I’m excited to share that at the upcoming Expo in 2025, SBI VC Trade and SBINFT will offer users the opportunity to collect and create non-fungible tokens (NFTs). However, these commemorative NFTs are unique and cannot be transferred or sold. With an expected attendance of 28.2 million people, this service is set to reach a vast community.

SBI Holdings announced that starting from October 13, 2025, the NFTs associated with the EXPO 2025 Digital Wallet operated by the company will no longer be visible. The reason being, SBI Holdings plans to close down the wallet after this date. However, users can still access and view these tokens in real time via the NFT explorer platform, Bithomp.

As a researcher studying the “MyakuMyaku Reward Program,” I can explain that participants will be able to accumulate NFTs based on their wallet tier. By engaging in activities during the Expo, such as transacting with the Expo’s electronic currency, “Myakupe!”, users have the opportunity to enhance their program standing.

Surge in XRP Trading Volume

The XRP token saw a significant increase in trading activity, with a volume jump of 67.32%, amounting to $713 million. Simultaneously, the price of this altcoin rose by 1.82% over the last 24 hours, reaching a value of $0.4809. Nevertheless, it’s important to note that the cryptocurrency remains 87.53% below its historic peak, which was hit at a price of $3.84 for investors back on January 4, 2018.

In addition, the value of the digital asset has risen by a modest 0.96% over the past week, but it experienced a significant drop of 7.51% in the preceding month. Compared to its performance, XPR saw minimal growth of 1.97% since July 2023. In contrast, Solana (SOL) and Cardano (ADA) posted impressive gains with nearly 700% and 38.31% increases, respectively, during the same time frame.

Read More

2024-07-01 16:14