SBI Introduces GameChanging World Expo 2025 Initiative Enabling Ripples XRP Ledger to Embrace NFT
SBI Group of Japan has announced an innovative venture for the issuance of unique digital assets, known as non-fungible tokens (NFTs), on the XRP Ledger in anticipation of the World Expo 2025 in Osaka. This strategy is designed to augment the experience of visitors using blockchain technology and has garnered significant interest within the cryptocurrency sphere.
**SBI Holdings Pioneers with Ripple**
SBI Holdings of Japan, in collaboration with Ripple, has initiated the creation of NFTs specifically for the World Expo 2025 utilizing the XRP Ledger. This endeavor is a segment of the “EXPO 2025 Digital Wallet” project under the auspices of SBI Holdings. The Myaku-N! digital wallet is available for download on both iOS and Google platforms, offering these complimentary NFTs to a limited group of 500 users. These tokens are of a commemorative nature, hence they are not eligible for transfer or resale.
SBI’s cryptocurrency trading division, SBI VC Trade, along with its NFT division, SBINFT, is set to extend this service to an anticipated 28.2 million attendees of the World Expo in Osaka, Kansai. These NFTs will be accessible for viewing up until October 13, 2025, subsequent to which the digital wallet application service will conclude.
**XRP Ledger to Enthrall 28 Million Expo Visitors**
Leveraging the XRP Ledger developed by Ripple, SBI is set to issue NFTs that feature MYAKU-MYAKU, the official mascot of the Expo. Expo participants will have the opportunity to amass these digital keepsakes by engaging in various Expo events and utilizing the dedicated Expo mobile application.
Emi Yoshikawa, the Vice President of Corporate Strategy and Operations at Ripple, has characterized this initiative as a monumental leap forward for both Ripple and the broader blockchain community. In addition, SBI has disclosed plans for extra giveaways, raffles, and rewards, including the “Myakumyakupon!” promotional campaign.
The World Expo 2025, slated to run from April through October on a man-made isle in Osaka Bay, is poised to draw approximately 28 million visitors from across the globe. World Expos have traditionally been a platform for exhibiting breakthroughs in science, economy, and technology.
**Ripple Network Witnesses Activity Upswing**
A pronounced increase in network activity has been observed on the Ripple XRP Ledger, predominantly attributed to NFT dealings. Since the introduction of NFTs on the XRP Ledger, a total of 699,590 NFT transactions have been recorded, amounting to $27.4 million in sales. Nonetheless, a downturn in sales has been noted since the final quarter of 2023.
In October 2022, Ripple Labs put forth the XLS-20 proposal, facilitating the minting of NFTs on the XRP Ledger sans the need for smart contracts. This measure is aimed at diminishing the impact on XRPL’s performance and alleviating network bottlenecks.