Ripple announced the launch of a $250 million Creators Fund as part of the Apex, XRP Ledger (XRPL) Developer Summit. The fund is focused on enabling creators, brands and markets in the NFT space to explore new use cases for NFT on XRPL, leveraging its inherent advantages of speed, cost and sustainability.
Many creators are hesitant to participate in NFTs because they have technical concerns about how to gain traction. Developers are also often plagued by poor user experience, high transaction fees, and the environmental impact issues of coin-making on many other platforms. Ripple tries to address these issues by providing funding, creativity and technical support. This includes financial and co-marketing support, technical support for a superior NFT experience built on the XRP ledger, and creative support through agency partners to build quality NFT projects.
Ripple is working with NFT marketplaces mintNFT and Mintable, both of which will enter the fund early and integrate with XRPL to explore new tokenization use cases and provide developers with a seamless NFT experience.
XRP Ledger is an open source, decentralized blockchain that supports tokenization of any asset, including NFTs. it provides developers with all the features they need – speed, low cost and built-in royalties – to move value efficiently and sustainably at scale, and without the need for a second layer protocol.