Using its $250 million Creator Fund, Ripple (XRP), the blockchain services provider has onboarded around 4,000 creators under various non-fungible tokens (NFT) projects.
Individual producers such as artists, singers, game designers, and developers are among the benefactors, according to a press release issued on March 10. Author, producer, and entrepreneur Justin Bua, director Steven Sebring, and xPunks are among the renowned creators who will gain from the initiative.
The program is known for being creator-centered, with the goal of serving as a bridge between various artists and creative agencies as well as markets. Mintable, MintNFT, and VSA Partners are among the most prominent partners.
Ripple noted the increasing importance of NFTs in the cryptocurrency ecosystem in its remark: “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.”
As per Ripple, the initiative will continue to support creators on a continuous basis, with various themes for each round of applications.
The most recent recipients are engaged in the fields of the metaverse, gaming, art, and collectibles. The themes on the XRP Ledger are typically coordinated based on established and upcoming NFT use cases.
The fund aims to assist innovators in developing NFTs that is absolutely cutting-edge. Ripple’s ledger has also been connected with the markets NFT Pro, Ethernal Labs, and OnXRP to allow for rapid payments. Built-in royalty mechanisms and co-ownership features are also included in the integration.
It has a built-in decentralized exchange (DEX) that allows for quick settling of tokenized assets of all kinds, and NFTs especially.