Nfts
SBI launches a revolutionary initiative for the 2025 World Expo!
Japan’s SBI Group has unveiled a groundbreaking initiative involving the issuance of non-fungible tokens (NFTs) on the XRP ledger for the upcoming World Expo 2025 in Osaka. The move, which aims to enhance visitor interactions through blockchain technology, has caught the attention of the crypto community.
Ripple Partner SBI Holdings Takes the Lead
Japanese company SBI Holdings, a Ripple partner, has started creating NFTs for the World Expo 2025 on the XRP Ledger. This initiative is part of the “EXPO 2025 Digital Wallet” project, sponsored by SBI Holdings. Users can download the Myaku-N! digital wallet on iOS and Google to receive these free NFTs, which are limited to 500 users. These NFTs are commemorative, meaning they cannot be transferred or resold.
SBI’s cryptocurrency exchange business, SBI VC Trade, and NFT business, SBINFT, aim to provide this service to the 28.2 million visitors expected to attend the World Expo in Osaka, Kansai. The NFTs will be available until October 13, 2025, after which the digital wallet app service will be discontinued.
XRP NFTs target 28 million visitors
Using Ripple’s XRP Ledger, SBI will distribute NFTs featuring MYAKU-MYAKU, the official character of the Expo, to visitors. Attendees can collect these digital collectibles by participating in Expo activities and using the Expo mobile app.
Ripple’s Vice President of Corporate Strategy and Operations, Emi Yoshikawa, described the initiative as a “huge” development for Ripple and the blockchain community. SBI also announced additional giveaways, sweepstakes, and prizes, including the “Myakumyakupon!” giveaway campaign.
The 2025 World Expo, which will be held from April to October on an artificial island in Osaka Bay, is expected to attract about 28 million visitors from around the world. Historically, world expos have showcased scientific, economic and technological advances.
Ripple Network Activity Increases
Network activity on Ripple’s XRP Ledger has seen a notable increase, mainly driven by NFT transactions. Since the launch of NFTs on Ripple’s XRP Ledger, 699,590 NFT sales have been completed, totaling $27.4 million. However, sales have declined since Q4 2023.
Ripple Labs introduced the XLS-20 proposal in October 2022, enabling the creation of NFTs on the XRP ledger without smart contracts. This initiative aims to reduce the impact on XRPL performance and alleviate network congestion.