SBI Announces Sale of Polygon and XRP Ledger NFTs

By Philip Maina

2 months agoMon Oct 14 2024 10:39:26

Reading Time: 2 minutes

• Japanese financial giant SBI Holdings has opened the sale of its Polygon NFTs
• Dubbed the “Crypto Canvas Collection,” the NFTs are created by SBI’s subsidiary SBI Digital Community
• Collecting Polygon NFTs unlocks additional collectibles on XRP Ledger

Japanese financial heavyweight SBI Holdings has announced the sale of Poylgon NFTs that also give access to other collectibles on XRP Ledger. Known as the “Crypto Canvas Collection,” the financial giant will conduct the sale through its subsidiary SBI Digital Community, with the sale ending on October 14. SBI disclosed that the NFTs will have special perks such as the right to participate in a lottery to win other collectibles, something that’s likely to draw more collectors to the collection.

A Hand-Drawn Generative NFT

In an announcement , SBI revealed that the collection has 3,000 collectibles, with each piece being “a one-of-a-kind, hand-drawn generative NFT.” The company noted that the collection is meant to bring stories from the community to life.

The current collection is powered by Ethereum layer 2 Polygon, and sales are handled on the Bto3 NFT marketplace, which SBI Digital Community controls. Purchasing more than two NFTs in the collection gives a collector the right to an “XRPL version of Crypto Canvas Collection.” The XRPL-powered collection is scheduled for launch next month.

Besides receiving XRPL-based NFTs, bulk collectors will also be eligible to receive NFTs in a second collection that is yet to be launched. Collectors will also receive discounts at select stores in Japan, a feature that will be activated in mid-2025.

More Japanese Entities Exploring Web3

SBI’s Crypto Canvas Collection comes when more Japanese entities are exploring the web3 space. In July, for example, popular Japanese anime “Attack on Titan,” announced that it’ll launch NFTs around the anime .

Last year, top Japanese airline All Nippon Airways unveiled a collectibles marketplace . The country’s government has also declared its support for web3. Japan’s new prime minister Shigeru Ishiba released a policy document outlining the benefits of the technology. A remote Japanese village recently turned to NFTs to support its aging population .

With SBI Holdings exploring the NFT space, it’s to be seen whether it will influence other traditional financial institutions to join the space.