The company announced that it is developing a new standard called XLS-20 to help developers create more advanced and innovative NFT applications on XRP Ledger.
According to the company, the new XLS-20 standard will equip XRP Ledger with the tools needed to create multi-purpose applications and will improve on the XLS-20d standard, which has token features built in.
Development began a few months after Ripple launched a $250 million fund aimed at supporting users who want to create and monetize NFT on XRP Ledger (XRPL).