Following a long-term interest in Web3, Ducati partnered with payment company Ripple and is set to launch its first non-fungible token (NFT) collection on the XRP Ledger this week. This step is the motorcycle company’s first venture into the Web3 space and blockchain technology.
Ducati Delves Into Web3; Prepares To Launch First NFT Collection
Ducati, a renowned motorcycle manufacturer established in 1926, is set to enter the world of Web3 by launching its first-ever digital collectibles on the XRP Ledger. The Bologna-based firm believes this step is essential to strengthen its relationship with its global community.
Claudia Domenicali, CEO of Ducati, commented on the Web3 move:
Entering WEB 3.0 is another way to get closer to the Ducatisti community by further extending the number of services offered to them. It also represents an opportunity to meet and make ourselves known to a new community of NFT enthusiasts, giving them the opportunity to live unique Ducati-style experiences and collect the digital assets that we will develop exclusively for this new dimension of the brand.
Ducati claims the digital collectible will consist of a video sequence of Ducati logos on tanks of motorcycles manufactured from 1946 to date. This NFT collection is set to go live on the XRP Ledger on July 26, 2023.
— Ducati (@DucatiMotor) July 20, 2023
Users who sign up within the first week after launch will receive the Ducati NFT “as a gift.” In addition, these users can access future releases by the motorcycle manufacturer.
It is worth mentioning that Ducati also collaborated with Web3 Pro, a white-label Software-as-a-Service (SaaS) platform, in the execution of this NFT project.
A Win For Ripple And XRP Ledger?
The XRP Ledger is a public, decentralized blockchain designed by Ripple, the company behind the XRP token. Blockchain technology allows for the creation of tokens, which are IOUs representing any currency value, and the production of NFTs.
Indeed, XRP Ledger is not the most popular choice amongst enthusiasts regarding non-fungible tokens. However, the blockchain has been experiencing significant activity recently, with more than 1 million non-fungible tokens minted in the first quarter of 2023.
With Ducati set to launch its first-ever NFT collection, XRPL may likely enjoy increased adoption and on-chain activity in the coming months. Moreover, Ripple has been in the spotlight following its victory over the U.S. Securities and Exchange Commission (SEC) on July 13.
It is worth pointing out the timing of Ducati’s NFT rollout on the XRP Ledger. Although it remains unclear whether Ripple’s recent win is integral to the NFT launch, one cannot deny the positive impact this ruling has had on Ripple’s payment technology lately.
Today, July 25, 2023, the Republic of Palau unveiled its collaboration with Ripple Labs to mint its stablecoin. Expectedly, this Palau stablecoin is deployed on the XRP Ledger.
XRPUSD trading at $0.69835 | Source: XRPUSD daily chart on TradingView
Featured image from Unsplash, chart from TradingView