Ducati will debut its digital collectibles on the XRP Ledger.
The Bologna-based motorcycle company will work with NFT PRO on this project.
XRP Ledger is a decentralised public blockchain that uses XRP as its native cryptocurrency.
Ducati, a Bologna-based motorcycle manufacturer, is making a foray into Web3 with an upcoming launch of a digital collectible project.
The company said in an announcement on Tuesday that it will deploy its new NFT collection on the XRP Ledger, a decentralised public blockchain network. Ripple is a contributor on the XRPL.
Ducati makes entry into Web3
Ducati has partnered with NFT PRO, a corporate white-label NFT solution, to bring the project to life. According to the company, the digital collectibles project its digital strategy as it looks to add to the engagement and experiences of its fans.
“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,” Claudio Domenicali, Ducati CEO, said in a statement.
The bike company says it will release more details in coming months as it rolls out new digital services and goods.
Ripple’s XRP Markets Report published in April indicated that the XRP Ledger logged increased activity in the first quarter compared to the previous three month period. In terms of on-chain activity, the company noted a 9% increase in transactions from 106 million to 116 million between Q4, 2022 and Q1, 2023.
NFTs are a key component of the XRPL activities, as it has seen users mint more than 1 million assets. DEX volumes, which jumped 34% in the period covered in the report, also demonstrated the increased usage of the blockchain network, Ripple said.