Ripple has unveiled the first independent creators to receive funding for their NFT projects through Ripple’s Creator Fund. With the global NFT market reaching $25 billion in sales in 2021, NFT marketplaces NFT PRO, Ethernal Labs and onXRP have also teamed up with Ripple to integrate the XRP Ledger (XRPL) and deliver a faster, low-cost and carbon-neutral NFT experience for their users.
Independent creators—from artists to musicians, to game designers and builders—can apply to Ripple’s Creator Fund. As the only creator-centered fund in the market, Ripple provides a distinct advantage by integrating marketplaces and creative agencies—such as existing partners Mintable, mintNFT and VSA Partners–to help creators grow their communities and navigate their path to minting with the XRP Ledger. Moving forward, the Fund will continue to support creators on a rolling basis with themes for each “wave” of applications. Initial Creators include those that submitted projects focused on NFT use cases—from Metaverse & Gaming to Art & Collectibles; the theme of Wave 1 will be announced in Q2. These themes will enable the exploration of existing and emerging NFT use cases on the XRP Ledger, with future themes exploring Media & Entertainment, Sustainability and Real Estate.
“NFTs have very quickly proven to have real utility within crypto—from digital experiences and rewards to artist royalties, co-ownership of real-world assets and more,” said Monica Long, GM of RippleX at Ripple. “By way of our Creator Fund and strategic partners, we’re leading more creators into the tokenized future and bringing their NFT apps and use cases to life on the XRP Ledger.”
Launched in September 2021, Ripple’s Creator Fund is a $250 million commitment to help creators get started with their state-of-the-art NFTs. The Fund attracted nearly 4,000 applications to-date to realize the value and benefits of the XRP Ledger for tokenized assets. Its built-in decentralized exchange (DEX) provides fast settlement for tokenized assets of all types–including NFTs. Last May, Ripple proposed XLS-20, a standard that would support a native NFT type and seamless NFT experience on the XRP Ledger.
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