October 31, 2022
By Sharan Kaur Phillora
Ripple, the leader in enterprise blockchain and crypto solutions, unveiled the second wave of creators to receive funding for their Web3, non-fungible token (NFT) projects through Ripple’s Creator Fund.
Here’s what we know:
According to Team Ripple, and as announced, the new crop of XRP Ledger-focused projects will focus on diverse use cases across media and entertainment. Other sectors the Creator Fund targets are gaming, music, and the metaverse, and the various teams are expected to leverage Ripple’s key advantages around network speed, cost, and sustainability, on top of new offerings such as built-in royalty and co-ownership in the growing NFT marketplace.
Second-wave participants include the metaverse platform 9LEVEL9, which will sell tickets to virtual events using NFTs; the Japanese fan-focused NFT marketplace Anifie; the NFT sports platform Capital Block; the NFT marketplace for XRP, NFT Master; the NFT intellectual property company SYFR Projects; the NFT membership project ThinkingCrypto; and the Cross-Metaverse Avatars.
The fund’s initial group of investors was announced in April 2022. And Ripple’s Head of DeFi Markets, Boris Alergant, said in an interview that it was established to hasten the development of the XRP NFT economy.
According to Alergant, community members and officials from the XRP Ledger Foundation and Ripple evaluated the Creator Fund submissions and voted on the winners. While Alergant has said that “We’re definitely committed to that $250 million and to seeing that innovation on the ledger.” The company has been vague about how much each innovator will get.
Ripple hopes to position the XRP Ledger as a premier platform for minting and managing NFTs and a place where creators and developers can continue to explore utility in NFTs through use cases such as asset ownership and interactive experiences that will help bring about a tokenized future.
About the author
Sharan Kaur Phillora’s thirst for knowledge has led her to study many different subjects, including NFTs and Blockchain technology – two emerging technologies that will change how we interact with each other in the future. When she isn’t exploring a new idea or concept, she enjoys reading literary masterpieces.