The first NFT on the XRP Ledger (XRPL), XPUNKS, has announced its exit from the community. XPUNKS disclosed titillating to the Solana blockchain in its repeat to characteristic on a fairer ecosystem.
XPUNKS triggered the NFT frenzy of 2021 on XRPL. Nevertheless its quest for more enhance and a richer NFT tradition now takes it to Solana, a rival community.
XPUNKS Levels A Dramatic Exit From XRP Ledger
The team within the help of XPUNKS took to the mission’s X professional account on March 19 to scream the migration. The put up, which moreover contained a video, modified into once titled “Novel Beginnings @Solana.”
Novel Beginnings @solana pic.twitter.com/MolY6k84ON
— XPUNKS (@XPUNKNFTs) March 19, 2024
The video started dramatically with the XRPL mark, which began to proceed away, followed by a disguise of the Solana mark. The video confirmed that XPUNKS has crossed over to Solana from XRPL.
The sudden departure of XPUNKS from the XRPL platform has raised quite a bit of questions throughout the crypto neighborhood.
Many wonder if it’s a total exit or the mission is constructing a multi-chain functionality. While the team notorious that they built a bridge to the novel blockchain, it gave no particulars on the murder of the exit.
On the opposite hand, it organized an Ask Me The relaxation (AMA) session on X for more recordsdata on the advance.
Particularly, XPUNKS emerged within the alternate in 2021, exhibiting a meteoric enhance pattern within a extraordinarily short period. The NFT performed a $100 million market cap within 4 weeks after its delivery. Even though XRPL wasn’t minting NFT at some level of the period, the XPUNKS team introduced an IOU token on the blockchain.
This characteristic triggered an explosive adoption of the mission among the dedicated XRP Navy and others. For over two years, UPUNKS has stood as a staple of XRP NFTs. Data from an XRP explorer, Bithomp, indicated that XPUNKS total sales amount to over $9.64 million thru 6,947 NFTs trades.
Moreover, the mission constituted more than 35% of all NFT volume on XRPL. On the opposite hand recent sales chart reveals that XPUNKS recorded a conventional plunge in NFT sales since 2023.
Many other folks fill reacted to the sudden departure of XPUNKS from the XRP Ledger. Some mediate that the mission is taking the steady steps that will be definite its sustainability in due direction.
An X particular person, JODES, shared many factors that would possibly maybe maybe make a contribution to XPUNKS’ migration to Solana. He mentioned that
Engaged on the XRPL feels treasure drowning in a existence jacket store.
Essentially based fully mostly on JODES, the XRP ecosystem lacks what it takes for initiatives treasure XPUNKS. He moreover sees XRPL as unfit technically, financially, and even socially to give a own to initiatives. Even though JODES is moreover an XRP neighborhood member, he felt upset that it took the mission’s departure from XRPL for more than just a few to acknowledge it.
Moreover, he blamed the charge firm Ripple for the convey of XRPL. Besides JODES, the founding father of XPUNKS, Kaj Leroy, moreover believes that the spike in engagement on account of their exit from XRPL is a definite signal. Essentially based fully mostly on him, the announcement put up on X has garnered practically 200 thousand views and more comments.
Leroy stated:
While our announcement is nearing 200k views, everybody within the XRP neighborhood is talking about us. That makes me ecstatic.
