Ripple jumps on the NFT bandwagon, announcing the launch of a $250 million Creator Fund.
The company announced the news on its official Twitter account, sharing its blog post. According to Ripple, the fund will allow creators to explore new use cases for non-fungible tokens (NFTs) on the XRP Ledger and engage more deeply with the communities they like and care about.
XRPL is decentralized blockchain that supports the tokenization of any asset, including NFTs, a built-in DEX, and fast pay at a low cost with royalties built-in.
In addition, the company said that 'Ripple’s Creator Fund' is lighting the global creator economy and blockchain developer communities. To clarify, the firm highlighted that it is committing $250 million to allow all creators and their partners to start their participation in this exciting new era.
Further, Ripple said it will support creators, brands, and marketplaces to monetize accessible and innovative NFT experiences on the XRP Ledger (XRPL). Also, the firm is in collaboration with mintNFT, Mintable and brand design agency VSA Partners.
Expanding further, Ripple said that creators would receive financial and co-marketing support. Adding to this, they will also get technical support for a better NFT experience built on the XRPL and assistance to craft premium NFT projects.