Ducati Enters Web3 by Launching NFT Collection on XRPL
Iconic motorcycle maker Ducati is entering the Web3 space by launching its first-ever non-fungible token (NFT) collection. The collectibles will be launched on the XRP Ledger (XRPL), one of the popular NFT minting platforms.
Ducati Forays Into Web3 to Get Closer to its Community
Ducati, a nearly 100-year-old Italian motorcycle manufacturer, is foraying into NFTs. On Tuesday, the company announced the launch of its first-ever digital collectible on the XRP Ledger, which will consist of a video sequence of Ducati logos on tanks of motorbikes produced since 1946.
The NFT push comes as the Bologna-based bike maker sees the Web3 landscape as a powerful way to attract new users, providing an immersive brand experience. For Ducati CEO Claudio Domenicali, Web3 is another way to reinforce the company’s relationship with the Ducatisti community “by 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.”– Domenicali said.
The move marks the first time Ducati is launching an NFT collection. Set to go live on July 26, users who wish to acquire a Ducati collectible must sign up within seven days of the rollout date.
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Ducati to Launch NFTs on XRP Ledger
To make this initiative possible, Ducati joined forces with Web3 Pro – a white-label Web3 business-to-business (B2B) software-as-a-service (SaaS) platform.
In addition, the collectibles will be minted on XRP Ledger, a decentralized blockchain network that facilitates fast and low-cost cross-border transactions. While it is primarily designed for payments and remittances, developers also use XRPL for minting NFTs and collectibles.
The support for native NFTs on the XRPL is enabled by the XLS-20 standard, which allows for all essential NFT functionalities such as minting, burning, trading, and automatic royalties. Earlier this year, XRPL contributor Ripple Labs also launched its Central Bank Digital Currency (CBDC) Platform, enabling central banks and other financial institutions to issue digital currencies.
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