Financial markets are collapsing and cryptos are turning red. While investors desperately hope for an uptick in the near future, prices continue to fall. However, different networks are looking for ways to develop. The ones that allow them to stay in the market and satisfy their communities. With this in mind, Ripple is signing a new partnership and preparing to launch a brand new metaverse.
Market Collapse and New Partnership for Ripple (XRP)
The crypto sector is in an alarming correction. If the current situation is normal for investors like Elon Musk and Michael Saylor, it is a disaster for others. Cryptocurrencies are undergoing a momentous fall and their future is uncertain. The mixed opinions of the experts do not reassure anyone and rather cause confusion. Large cryptos by capitalization are feeling the effects of the decline, but so are small cryptos.
Ranked in the top 10 best cryptocurrencies by market capitalization, Ripple (XRP) is a cryptocurrency that needs no introduction. However, the fall of the markets is not indifferent to him. Indeed, the 8th crypto is also suffering from the grip of the market. Despite the benefits it offers, the Ripple company has to endure the difficulties and find effective solutions to get through the crisis.
Like many other companies operating in the sector, diversity is an essential point to develop. As a result, partnerships become a non-negligible way out. Despite a grueling lawsuit against the SEC, the company continues to work together. Ripple recently announced its partnership with FLUF World. A partnership full of surprises, as the creators seem to have decided to dive into innovation.
FLUF World is an ecosystem based on NFT collections and 3D NFT experiences. He is well known in the industry and has several famous NFT collections to his credit. Remarkable party bears† caves† fluff as well as many others. The partnership with Ripple aims to create an open metaverse. It has taken many years to consolidate the project and its launch will no doubt be an event. The XRP Ledger will certainly be important in creating this metaverse as it will serve as the default digital asset for transactions.
The root network for interoperable worlds
The news fell on Twitter on June 17. According to Aaron McDonald, co-founder of FLUF World, the Root Network project is the result of 5 years of relentless hard work, development and research. The latter aims to create an open and scalable metaverse. To carry out this mission, the only possible choice was Ripple (XRP). According to him, this partnership will open up new perspectives for both their community and that of Ripple.
The choice for a completely separate network for the future metaverse is purely strategic. According to the developers, this will allow creators to take advantage of new features that are different from those they’ve known so far. As a result, they no longer have to execute or write the contracts themselves. In addition, they can also use previously written code to work on the Ethereum blockchain on The Root Network. However, this is only possible through the Ethereum Virtual Machine (EVM).
The partnership between Ripple and FLUF will therefore enable the creation of an open, interoperable and transparent metaverse. This metaworld is based on two fundamental principles. First of all, it offers the opportunity to live an immersive experience on the web. In general, it is divided into several different categories. The open metaverse will thus make it possible to remove these boundaries and enjoy all the functionalities of the Internet.
Users then have full control over their assets. Ownership is thus in the hands of the users. The latter are responsible for their identities, their avatars, their data, as well as the intelligence behind the process.
The new partnership between Ripple and FLUF promises many surprises. Considering everything that has been said about the upcoming metaverse, there’s no question that the two communities are not at the end of their surprise.
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The world is changing and adaptation is the best weapon for survival in this undulating universe. As a crypto community manager at the grassroots level, I am interested in everything directly or indirectly related to the blockchain and its derivatives. To share my experience and make known a field that fascinates me, there is nothing better than writing informative and relaxed articles at the same time.