Ripple’s $250 million fund supports Web3 projects in the entertainment and media

Ripple, an enterprise blockchain and crypto solutions company, launched the Ripple Creator Fund in September 2021, a $250 million initiative dedicated to providing creators with the financial, creative, and technical support needed to create nonfungible tokens (NFTs) and other tokenization projects on the XRP Ledger.

On October 18, Ripple revealed the second group of creators who would be receiving money from Ripple’s Creator Fund for their NFT initiatives. Independent creators with a focus on developing practical use cases in gaming, the Metaverse, music, and media on the XRP Ledger received investment in this round. Companies including 9Level9 Productions, Anifie, Capital Block, NFT Avatar Maker, NFT Master, SYFR Projects, and ThinkingCrypto were among the recipients in this round.

Ripple is prioritizing NFT projects, according to the vice president, because “we see a tokenized future quickly becoming reality.” Indeed, the World Economic Forum predicts that 10% of global GDP will be tokenized by 2027—only five years from now!” He went on to say that Ripple’s Creator Fund can help accelerate adoption by enticing a larger community of creators to participate in and benefit from NFTs.

He stated that Ripple has taken a “no smart contract required” approach to enable any developer to access all essential NFT functionality natively on the XRP Ledger via basic API calls, such as minting, burning, exchanging, and assigning royalties.

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