Through its $250 million Creators Fund, which debuted in September 2021, Ripple reported the addition of approximately 4000 artists, singers, game designers, and builders to various NFT projects.
Ripple onboards over 4,000 NFT creators onto new creator fund
Mintable, MintNFT, VSA Partners, NFT PRO, Ethernal Labs, and onXRP are just a few of the markets and creative firms that have banded together to bring varied artists together. The last three will leverage XRP Ledger to provide customers with a faster, lower-cost, and carbon-friendly NFT experience. Author and producer Justin Bua, filmmaker Steven Sebring, and xPunks are newcomers.
“We are incredibly excited for Ethernal Labs to be a partner of Ripple’s Creator Fund and integrate the XRP Ledger,” said Nick Rose, Ethernal Labs CEO, and founder. “This partnership allows us to bolster the Web 3 ecosystem by pioneering cross-chain interoperability and bringing NFTs and digital assets to the masses.” The partnerships will provide royalty structures and co-ownership functionality.
The NFT-Devnet, a beta development environment designed to improve support for NFTs on the XRP Ledger and decrease the technological barrier for aspiring NFT producers, was launched in January 2022. The General Manager of the app development arm RippleX, Monica Long, said of the rapid pace of the NFT space, “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.”
The XRP Ledger has a decentralized exchange for all tokenized assets, including NFTs.
Ripple has stated that the fund would continue to grant funding to creators whose work falls into numerous categories per application wave. According to new and existing NFT use cases on the XRP Distributed Ledger, the present producers will focus on metaverse, gaming, art, and collectibles themes.
Ripple is pushing into the world of Web 3.0 and uses cases for tokenized assets, having just disbursed $100,000 to Feeturre, an entertainment and music marketplace, to accelerate Web 3.0 activities and bring utility to the XRP Ledger ecosystem. Feeturre is a web-based solution for buyers and sellers in the entertainment sector that connects artists, producers, influencers, and their representation for commerce and cooperation.
“With the XRP Ledger, Feeturre will have low transaction fees and fast settlement, creating a clear advantage over competitors. The integration of XRPL-based NFTs is a key step in accelerating the adoption of the Internet of Value,” said Elliot Lee of RippleX.
Ripple will be hosting the Ripple House at the South by Southwest festival in Austin, Texas, from Fri, March 11 to Sun., March 20., 2022.
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