SBI Digital Community, a subsidiary of the notable Japanese SBI Holdings focused on Web3, has chosen both XRP Ledger (XRPL) and Polygon to roll out its pioneer NFT series. dubbed “Crypto Canvas Collection.”
The NFT series, intended to weave narratives alongside community members on a digital canvas, boasts 3,000 distinct generative hand-drawn NFTs, each with a price tag of 0.025 ETH, announced SBI Digital Community via a press release on Tuesday.
NFTs Live!
The NFTs will be minted on the Polygon blockchain , with purchases being available through the Bto3 Discord channel. Through this initiative, SBI Digital Community seeks to boost user engagement with Web3, aid newcomers to the Web3 space, and drive widespread acceptance through an inventive NFT discount program.
“Web3 has faced hurdles in widespread adoption due to its limited real-world applications. Our NFT discount initiative aims to overcome that, encouraging wider use and fostering a beneficial ecosystem for users, retailers, and our organization,” stated SBI Digital Community.
The company plans to offer the NFT series to the public between October 12 and October 14 this year, with the option of credit card payments available to simplify access for those new to the crypto world.
Real World Use Cases
SBI Digital Community claims that possessing an NFT from this series unlocks multiple perks, such as entering a raffle for additional NFTs, gaining access to a country-wide discount service at partner stores starting the second quarter of 2025, and receiving a second NFT series automatically upon its introduction.
Their NFT discount program represents a groundbreaking method by which SBI Digital Community bridges the gap between Web3 and everyday experiences. According to them, it lets NFT holders scan a QR code at participating outlets and connect their crypto wallets to verify ownership of the NFT.
After the verification, customers can present the authenticated screen to store staff to tap into a discount. The system is crafted to be user-friendly for both clients and businesses, regardless of their Web3 background knowledge.
Owners of these NFTs will also receive an XRPL version of the Crypto Canvas Collection that will debut next month for every two NFTs they acquire, along with exclusive benefits from future series.
Ripple’s XRPL is recognized by numerous international partners, with SBI Holdings being a pivotal supporter. Ripple and SBI Holdings have teamed up extensively to boost XRP adoption and broaden its application across varied sectors.
SBI Digital Community and Ripple established a strategic alliance this past August.
The alliance focuses on boosting the presence of XRPL within the Web3 community by enhancing user engagement and fostering XRP adoption through education and community-led initiatives, which includes issuing NFTs on XRPL.
XRP is Big in Japan
Ripple earlier revealed an agreement with SBI Group and HashKey DX intended to innovate XRPL-based supply chain finance solutions in Japan. The project leverages XRPL's capabilities for streamlined payment processes within supply chains.
SBI Remit, another arm of SBI Holdings, has broadened its remittance services using XRP as a bridging currency for swifter and budget-friendly cross-border money transfers across Southeast Asian markets like the Philippines, Vietnam, and Indonesia.
This development emerges amid a continuing legal dispute between Ripple Labs and the SEC. Recently, the SEC challenged Ripple’s latest court decision mandating a $125 civil penalty on the crypto company.
The Commission has consistently expressed displeasure with the ruling categorizing some secondary market XRP sales as non-securities, indicating an intent to contest the ruling.
