Ripple introduces a new $250 million creator fund for NFT development on XRP Ledger »CryptoNinjas

Ripple, provider Enterprise blockchain and encryption solutions, Today announced a $250 million fund to provide creators with the financial, creative, and technical support needed to explore and produce high-quality non-fungible tokens (NFT) and other tokenized projects on the XRP ledger.

The global interest in NFTs has introduced new sources of income and business models, while deepening the mainstream’s relationship with the communities, people and things they care about. However, when creating state-of-the-art NFTs, many creators face barriers to entry—including concerns that their NFTs will not be sold, and a lack of understanding of different NFT concepts. At the same time, developers are burdened with high transaction fees and clumsy user experience.

Although digital art and collectibles quickly aroused public interest and welcome, the utility of NFTs extends far beyond these use cases. By providing creative and technical support to various markets, creators, artists, and brands, Ripple’s Creator Fund seeks to realize tokenized long-tail use cases, such as interactive experiences and partial ownership.

Ripple is working with innovative NFT markets and creative agencies that recognize the potential of these unique tokenized assets and will receive the fund first as part of the launch.

Ripple’s Creator Fund and its partners aim to accelerate the development of NFTs while eliminating the pain points associated with producing compelling projects.

1. The Mint

Mintable is a next-generation non-fungible token (NFT) market based on the blockchain. Mintable was launched in 2018. By taking the lead in designing airless coinage, batch coinage and royalties, it enables artists and creators to monetize their works through NFT, thereby promoting the development of the NFT industry.

Mintable’s gasless minting option allows ordinary people to participate in NFT without any coding knowledge or the up-front cost of minting assets-this is a great way for everyone to enter the cryptocurrency.

In 2021, Mintable announced its support of a series of high-quality investors including well-known venture capitalist and TV personality Mark Cuban, Sound Ventures (a venture capital company founded by Ashton Kutcher) and Guy Oseary, and investment fund TIME Ventures. Mark Benioff.

To date, Mintable has sold and auctioned the works of Grammy Award-winning artists, 20th century avant-garde artists, and various well-known artists and celebrities.

2. VSA partners

VSA Partners is a hybrid brand strategy and design agency with a 40-year history of solving complex business problems. It provides a design-driven experience that excels in the market, realizing the future of the brand for some of the most respected and visionary organizations in the world.

3. Mint NFT

A member-based premium non-fungible token (NFT) market mintNFT focuses on connecting fan experience with licensed content, brands, and talent. mintNFT integrates social, gamification, and patent-pending new identity verification processes for NFT.

mintNFT makes collecting NFTs a fun and engaging experience and transforms casual fans into collectors, creators and partners. mintNFT provides users with an unprecedented social experience. Its unique features include exclusive digital events, NFT live auctions and fan-generated events, all of which are carried out on a dynamic, interactive and gamified platform. It also includes an integrated secondary market that allows users to buy, sell and trade NFTs.

“Although NFT opens the door to the future of tokenization, for many people, actually driving these concepts is a different race. By starting with the market and creators, our fund tries to eliminate the guesswork in NFT projects, To unlock undeveloped use cases for tokenization on the XRP ledger.”
—— Monica Long, Ripple’s RippleX general manager

Casting NFTs on the XRP ledger will provide a rich experience for creators looking for new ways to monetize their work. For developers, the inherent performance advantages of XRP Ledger—speed, low cost, and built-in royalties—make it ideal for pushing NFT utilities on a large scale, and it does not require a layer 2 protocol. Library support can also be used to simplify NFT integration and bypass direct XRPL development.

The XRP ledger is an open and decentralized blockchain. Its built-in decentralized exchange (DEX) provides fast settlement for tokenized assets (including NFT), and its joint consensus mechanism eliminates gas fees and is 120,000 times more efficient than blockchains that rely on proof of work.

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