Ripple chief technology officer David Schwartz says the San Francisco payments company is looking at ways to bring non-fungible tokens (NFTs) to the XRP Ledger.
In a new interview on Thinking Crypto, Schwartz notes that he personally has been interested in two particular ideas regarding NFTs and the space they occupy in the digital world.
[adinserter block="1"]The first, he says, is the “drive that people have to collect things.”
“If you look at NBA Top Shot, which is a great NFT project — they have a fantastic user experience, but the important thing there is like I have a relationship with something that means something to me that nobody else has.
I don’t know exactly what that relationship is — like I sort of own it — but it doesn’t matter. What matters to me is that I love LeBron James or Steph Curry or whoever, and I have a special relationship to [them] that nobody else has.”
The other aspect of NFTs that interests Schwartz is the idea of digital rights. Schwartz notes that everyone currently has “bundles of digital rights” in the forms of things like songs on iTunes, eBooks on Kindles, and movies on streaming platforms.
But he says the current user experience with those digital rights is “absolutely awful” due to the ever-changing marketplace.
[adinserter block="1"]The Ripple CTO wonders if NFTs are a step in the right direction to coming up with a long-term solution for digital rights.
Schwartz’s comments aren’t the first evidence of NFTs overlapping 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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