Six Projects on the XRP Ledger That People are Talking About in 2022
The XRP Ledger, sometimes referred to as the XRP blockchain, is a decentralized, public blockchain that developers can build on. It’s fast, energy-efficient, and boasts low transaction costs and a knowledgeable community. Its native token is XRP, which regularly sits among the world’s top 10 cryptocurrencies by market cap.
Despite the news of an XRP lawsuit, and a bear market in 2022, support for XRP seems to be strong. The 24-hour trading volume for the XRP token in 2022 still often ranges in the billions of dollars!
If you’re looking to dive deeper into the world of XRP and its ecosystem, here are some projects built on the XRP Ledger that people have been talking about:
Tokenize Securities On-Demand with Sologenic
Sologenic is an ecosystem built on top of the XRP Ledger. It allows users to invest, trade and tokenize crypto and non-blockchain assets, like stocks, ETFs and commodities.
Tokenization is the creation of digital tokens on a distributed ledger or blockchain, in this case, on the XRP Ledger. By switching to a tokenized system, investors can liquefy real-world assets. For example, converting property ownership into 500,000 tokens, each representing a tiny percentage of the property itself.
These tokenized assets are then tradable against cryptocurrencies like XRP and SOLO, the native tokens of XRP Ledger and Sologenic. They can also be stored in their own private online or offline digital wallets.
Sologenic has a handy test account feature which allows users to take the platform for a spin and place practice orders without putting capital at risk.
Given that the platform benefits from the low fees, high speeds, and scalability that the XRP Ledger can offer, tokenizing assets using Sologenic is sure to remain a popular trend among XRP fans for a long time.
CasinoCoin: A Crypto for Gambling Companies
Many crypto gambling companies exist, but not all are tied to properly regulated guidelines protecting the end user. CasinoCoin is specifically designed for the regulated gambling industry. The project is led by a dedicated team of experienced individuals working in gambling and e-sports. Thus, the features and tools made available by the CasinoCoin project are designed for end users and operators.
CasinoCoin offers four major benefits:
- Low transaction fees for both players and operators thanks to being on the XRP blockchain.
- A substantial player pool featuring over 35,000 players that already have active wallets.
- A safeguarded ecosystem thanks to the traceability offered by blockchain technology.
- Zero chargebacks. In the gambling industry, chargebacks account for 1% of all deposits. With this XRP blockchain-based project, those chargebacks are eliminated.
CasinoCoin is available as a trading pair on Sologenic, is tied to Ripple Labs, is listed on various exchanges, and offers staking capabilities to users.
People who are familiar with projects living on the XRP blockchain place CasinoCoin above most other gaming or gambling projects.
CasinoCoin offers a great explorer window where you can see all kinds of data related to what’s happening transaction-wise. For example, you can also see the current market capitalization of the project at any given time, how many users are currently holding the token versus how many have active wallets, and exactly how many tokens are available on exchanges.
Coreum: The Only Blockchain You Need
Coreum markets itself as one blockchain for all. It incentivizes users to participate in transactions by offering bulk discounts. In addition, it solves real-world problems at scale by providing developers and financial institutions the essential infrastructure to build future decentralized applications.
Two of the more distinct traits of the Coreum architecture are its use of a Bonded Proof-of-Stake mechanism and WebAssembly engine (WASM). This feature enables extensive scalability and growth of decentralized applications within the Coreum ecosystem. The Coreum whitepaper offers a more technical explanation of the mechanisms.
In short, the advantage of Coreum is that it is a high-speed Layer 1 solution that allows developers to scale without limits, utilizing smart contracts and deploying a bridge functionality to interoperate with various chains.
xSpectar: A Metaverse Experience That Lives on XRPL
xSpectar markets itself as an exclusive metaverse experience. It provides an immersive metaverse world and xSpectar token, incentivizing user participation and loyalty. The combination allows people to build up their avatars, run businesses, and participate in various activities.
Using the XRP Ledger provides xSpectar with faster and more scalable transactions that are more affordable for the average user, just like any other project using XRP.
The team behind the project hopes to build the most innovative virtual economy on the blockchain. They plan to accomplish this by providing members with an ultra-exclusive environment to meet in, and the ability to monetize their exclusive membership through collaborations with the project.
The goal is essentially the same as any other metaverse project. To merge the real and virtual worlds, except that xSpectar wants to do it with a focus on exclusivity.
The membership price won’t be publicly available until the project is minted. Still, naturally, an exclusive metaverse such as xSpectar will have exclusive NFTs intended for affluent individuals, so you can bet the floor price likely won’t be accessible to most users.
xSpectar’s roadmap includes plans to launch games, casinos, NFTs, and virtual real estate. Those are much of the same assets featured on the roadmaps of other metaverse projects. The difference of course, is the benefit of being on the XRP blockchain.
Equilibrium Games: Combining Blockchain and the Gaming Industry
Equilibrium Games was the first gaming company to develop a game on the XRP Ledger.
Their blockchain games center around a player-driven economy, and all utilize the Equilibrium (EQ) cryptocurrency to facilitate a play-to-earn format. This means users can earn crypto for playing the game and use it to buy, sell, and trade related game items/assets.
There is a maximum supply of 100 million EQ tokens. The cool thing about the tokens is that 80% of the supply is reserved for airdrops and incentives, while users within games will earn the remaining 20%.
Equilibrium Games is building out an entire suite of games, allowing players to earn tokens or receive airdrops and other incentives within a catalogue of different games.
Just three years ago, the entire crypto industry made a big deal about a game called Axie Infinity, which took off in The Philippines because of a play-to-earn model. The concept was new, which made many people astonished that there were users around the world earning a full-time income playing a decentralized game.
Equilibrium Games is trying to build out a whole roster of games. This could positively impact the EQ token as it accumulates more utility. So even if one franchise gets hot for a while and then cools off, there will be others in the works that can still use the token.
CryptoPunks is a blue-chip NFT collectible project that lives on the Ethereum blockchain. These punks famously sold for hundreds of thousands and even millions of dollars at the height of every NFT bubble the crypto industry has seen thus far.
That puts them out of range for most collectors. XRPL Punks (aka XPUNKS) exist to solve that problem. They are much more affordable because fewer people are using XRP to buy NFTs compared to marketplaces built mostly for Ethereum, such as OpenSea.
The XPUNKS collectibles look very similar to the classic pixelated CryptoPunks, but naturally, XPUNKS has its own roadmap. The collection consists of 10,000 NFTs, and many milestones along the way allude to gaining exposure for the project, selling merchandise, and increasing the project’s popularity.
That said, this project plans to launch its own simulation game and enable holders to access virtual land they can build on top of. While it doesn’t sound like it’s going to be a full-blown metaverse experience at the moment, the team is setting up for that possibility in the future.
The main benefit of buying these XPunks on the XRP Ledger is that it is cheaper, making it more accessible for entry-level and experienced NFT collectors to own a collection of NFTs. Additionally, they may have some familiarity with them because the branding and messaging are similar to that of CryptoPunks.
That said, XPUNKS is a project founded and run by XRP enthusiasts. The team isn’t affiliated with the original CryptoPunks creators, although they have a passion for the tone and voice of the punks that make up both communities.
Use Netcoins to Buy XRP and Other Cryptocurrencies
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