Ripple introduces new $250M creator fund for NFT development on XRP Ledger

Ripple, a provider of enterprise blockchain and crypto solutions, today announced a $250 million fund to provide creators with the financial, creative, and technical support needed to explore and craft premium non-fungible tokens (NFTs) and other tokenization projects on the XRP Ledger. Heightened interest in NFTs globally has introduced new revenue streams and business models while deepening the mainstream’s relationships with the communities, people, and things they care about. However, when it comes to creating state-of-the-art NFTs, many creators face barriers to entry–including the fear their NFTs won’t sell and a lack of understanding on navigating different NFT concepts. Meanwhile, developers are burdened with high transaction fees and clunky user experiences. While digital art and collectibles have quickly captured public interest and popularity, the utility of NFTs goes far beyond these use cases. By providing creative and technical support to a diverse array of marketplaces, creators, artists, and brands, Ripple’s Creator Fund seeks to enable longtail use cases for tokenization—for example, interactive experiences and fractional ownership. Ripple is teaming up with innovative NFT marketplaces and creative agencies who recognize the potential of these unique tokenized assets, and as part of the launch, will have first access to the fund. Ripple’s Creator Fund and its partners aim to accelerate the evolution of NFTs while eliminating the pain points associated with crafting compelling projects. 1. Mintable Mintable is a next-generation non-fungible token (NFT) marketplace built on the blockchain. Launched in 2018, Mintable has pushed the NFT industry forward by being the first to design gasless minting, batch minting, and royalties, empowering artists and creators to monetize their work via NFTs. Mintable’s gas-free minting option allows the everyday person to get involved with NFTs without any prior knowledge in coding or upfront cost of minting an asset — a great way for everyone to get into crypto. In 2021, Mintable announced the backing of a list of high-caliber investors including renowned venture capitalist and television personality, Mark Cuban, Sound Ventures, a venture capital firm founded by Ashton Kutcher, and Guy Oseary, and TIME Ventures, the investment fund for Marc Benioff. To date, Mintable…

Source: Ripple introduces new $250M creator fund for NFT development on XRP Ledger

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