Ripple launches $250 million creator fund for NFTs on XRP Ledger; FOMO rally ‘overdue’
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Ripple Labs, founders of blockchain-based payments solution XRP, wants in on the NFT action. And it’s setting aside a US$250 million creator fund to make it happen.
The company launched the new NFT-focused fund in a Wednesday announcement as part of Apex, the XRP Ledger (XRPL) Developer Summit.
Its aim is to provide targeted support for creators, brands and marketplaces to explore new use cases for NFTs on the XRPL blockchain, “leveraging its innate advantages of speed, cost and sustainability”.
🎤 We’re incredibly excited to launch our $250 million Creator Fund to enable creators to explore new use cases for #NFTs on the #XRPLedger and engage more deeply with the communities they care about. https://t.co/FJTsGET81C
— Ripple (@Ripple) September 29, 2021
No doubt recognising the huge opportunity in NFTs while it’s been on the sidelines watching the Ethereum and Solana ecosystems boom, Ripple says it believes “the future will be tokenised”. And it says non fungible tokens are an important part of that vision.
It’s a vision that’s “fast becoming a reality” according to the influential crypto company. “In fact, the World Economic Forum projects that 10% of the world’s GDP will be tokenised by 2027,” reads the Ripple statement.
Ripple also revealed it’s teaming up with the creative agency VSA Partners and NFT platforms such as mintNFT and Mintable to help get the ball rolling on its new ecosystem and marketplace.
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