Ripple has disclosed the second batch of creators to receive funding for their NFT projects through the Ripple Creator Fund, a $250 million funding commitment to providing creators with financial, creative, and technical support.
The funding was granted to independent creators focused on building functional use cases in gaming and the Metaverse, as well as music and media on the XRP Ledger. The beneficiaries include 9Level9 Productions, Capital Block, NFT Avatar Maker, Anifie, SYFR Projects, NFT Master, and Thinking Crypto.
Markus Infanger, the vice president of RippleX Growth, said Ripple chose projects that brought life to tokenization use cases, projects that provide functional utility like access rights, ticketing, and visions that best aligned with bringing innovation and creativity to non-fungible tokens that go beyond digital art. He highlighted that Ripple’s Creator Fund is open to all types of NFT projects, whereby each wave of funding has a theme. Infanger said the current wave is based on entertainment and media, specifically music. Ripple wants to provide support to indie creators with the technical, financial, and co-marketing support necessary to engage with their communities through NFTs.
Ripple is focused on the Web3 industry because it believes that a tokenized future can transform the creator economy, create new business models and deepen creators’ relationships with their community. The firm has taken a no-smart contract-needed approach to make it easier and faster for any developer to access all essential NFT functionality natively on the XRP Ledger.