XRP Ledger Confirms Carbon Credit NFT With Ripple’s New $100,000,000 Investment Fund

Ripple Labs has announced a $100 million investment fund in which Carbon Non-Fungible Tokens (NFTs) are offered on the XRP Ledger.

according to new press releaseRipple’s new initiative aims to promote decarbonization activities and technologies and streamline carbon-centric fintech and crypto projects.

“These funds will continue to support new features and developer tools that enable the tokenization of carbon credits into the core non-fungible token (NFT) of the XRP ledger. This commitment will help us move toward the globally agreed-upon climate goal of limiting global temperature rise to 1.5 degrees Celsius.”

Ripple’s investment is part of its goal of being completely carbon neutral by 2030. According to the press release, XRP Ledger will become a carbon-neutral blockchain by 2020, and Ripple itself will be carbon-neutral by 2028.

said Monica Long, general manager of RippleX, the investment and development arm of the San Francisco-based company.

“Tokenizing carbon credits can play an important role in expanding the carbon market and meeting growing demand while ensuring the reliability, integrity and transparency of existing markets. Several carbon removal projects and fintechs are already bringing new climate solutions to market based on the XRP ledger.

By incorporating blockchain into global climate initiatives, the industry can more rapidly validate and certify NFT carbon credits, eliminate the possibility of fraud, and ensure that offsets actually remove carbon in the long run.”

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