Ripple, a giant cryptocurrency protocol, is currently partnering with UK-based Sports Car Company Lotus. The partnership will oversee Lotus’ automotive NFT launch on XRP Ledger (XRPL).
The blockchain protocol made this announcement on its official Twitter handle, saying:
“We’re excited to partner with @lotuscars to help bring automotive #NFTs to the #XRPL.”
The sports car company initially announced that partnership a week ago as it mentioned that it planned to enter the world of NFTs by collaborating with the famous blockchain company and NFT Pro, one of the beneficiaries of Ripple’s Creators Fund.
According to Lotus, Ripple will provide technical support via its low-cost, fast, and carbon-neutral XRP Ledger.
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More About Ripple and Lotus
The NFTs will be a product of Lotus’ Advanced Performance unit, a department of the automotive company that was created earlier this year.
In-house creators will build the digital collectible using the Lotus design, with each unit tipped to pay tribute to the legendary performance car brands.
Notably, the NFTs will enable collectors and creators to experience different Lotus cars in a new dimension, with holders of the digital collectible given lots of perks in the coming weeks or months.
According to Simon Lane, Director, Lotus Advanced Performance, in an announcement:
“Lotus has always been about cutting-edge innovation, and entering the Web3 space in this way, with a truly customer-focused NFT program, is another excellent example of that. Partnering with NFT PRO, a real expert in this field, means we are guaranteed to deliver truly memorable content for a new digital community of Lotus fans.”
The announcement mentioned that NFT PRO, among the beneficiaries of Ripple’s $250 million Creator Fund, will work closely with Lotus in developing the non-fungible tokens.
Commenting on the development, Christian Ferri, CEO, NFT PRO, said:
“It’s a privilege to partner with such an iconic British automotive brand and to help the Lotus Advanced Performance team connect with a new generation of fans. This announcement is only the beginning for this collaboration.”
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