The year 2023 proved to be a momentous one for XRP Ledger, as it experienced significant growth following Ripple’s legal victory in the SEC lawsuit.
In the beginning of 2023, the number of NFTs minted on XRP Ledger was below a million, but this has since changed due to the remarkable expansion of the blockchain ecosystem.
XRP Ledger achieved a significant milestone by surpassing the mark of five million NFTs minted on the platform. This achievement is particularly noteworthy considering that the standardization of NFTs by XLS-20 took place in October 2022.
According to data from Bithomp, a total of 5,166,733 NFTs have been minted using the XLS-20 standard. Of these, 4,775,325 NFTs are currently in existence, while 391,265 NFTs have been burned. The number of issuers has now reached 6,112, indicating a growing NFT ecosystem on XRP Ledger.
This year witnessed enhancements on XRP Ledger, including the passage of new NFT amendments and the formation of new partnerships. In July, renowned motorcycle manufacturer Ducati entered the digital collectibles space by releasing its first-ever NFT on XRP Ledger.
In addition to the surge in NFTs, XRP Ledger also experienced an increase in network activity throughout the year.
In November, XRP Ledger achieved the significant milestone of closing its 84 millionth ledger, underscoring its status as a robust layer-1 platform. According to XRP Ledger Services, the current ledger index stands at 84,921,417.
The growth trend is also apparent in the expansion of XRP Ledger-based projects. Bob Ras, a co-creator of Sologenic, highlighted the progress made by Sologenic and Coreum in 2023. He reported a 35% increase in team size during the year and expressed optimism for continued growth in 2024.
Overall, the developments in 2023 underscore the growing prominence and potential of the XRP Ledger ecosystem in the crypto and NFT industry.
