Ripple Expands Support for NFT Creators with Second Wave of Funding
As of October 18, Ripple is doubling down on its commitment to cultivate the NFT ecosystem on the XRP Ledger with the announcement of its second wave of recipients for the Ripple Creator Fund. This $250 million initiative shines a spotlight on independent creators innovating in areas like gaming, the Metaverse, music, and media. This round showcases the company’s dedication to bringing creative and functional uses to NFTs beyond mere digital art.
Featured in the Second Wave: Diverse Creative Projects
Ripple’s recent funding round features creative powerhouses like 9Level9 Productions, Anifie, Capital Block, NFT Avatar Maker, NFT Master, SYFR Projects, and ThinkingCrypto. These projects are on the cutting edge, offering functionality like access rights, ticketing solutions, and integrating phygital items—blurring the lines between physical and digital. The selected projects were chosen for their ability to promote utility in NFTs and enliven the novel possibilities of tokenization.
Focusing on Innovation in Entertainment and Media
Speaking with Cointelegraph, Markus Infanger, vice president of RippleX Growth, emphasized that the current wave zeroes in on entertainment and media, particularly music-based initiatives. Ripple aims to equip indie creators with technical, financial, and marketing resources, bolstering NFT community engagement without the need for arduous smart contracts. An approachable API facilitates essential NFT management processes like minting, exchanging, and royalty assignments.
Aiming for a Tokenized Future
Ripple is betting on a tokenized future where assets digitize to transform the creator economy and breed fresh business models while nurturing relationships between creators and their fans. With over 4,000 applicants to the Creator Fund thus far, Ripple envisions its investment accelerating this evolution greatly, tapping into the World Economic Forum’s forecast that 10% of global GDP could be tokenized as soon as 2027. Their strategic “no smart contract needed” approach aligns with this larger vision, positioning the XRP Ledger as a leading player in the minting and management of NFTs.
