David Schwartz, chief technology officer of Ripple Labs, told CoinDesk in an interview this week that the goal is to enable mass adoption of tokenization – representing ownership of real-world things through NFTs – by offering lower costs, higher speeds and improved security over existing blockchains. Ethereum is among the incumbents.
“You're going to see projects based on things like carbon credits and real estate ownership and all these different use cases,” he said in an interview. “Anything that you can own all or some of that is unique, that can be represented by an NFT.“
Doing so can limit creators' ability to profit off of their work. Ripple's initiative aims to mitigate that by allowing artists to integrate their royalties on-chain.
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